What: Dickson Concepts saw a rise in first-half profit despite lower sales.

Why it is important: For the 6 months to the end of September, they saw turnover fall 42.7%.

Harvey Nichols owner Dickson Concepts has reported a rise in profit for the first half of its financial year, despite lower sales. For the six months to the end of September, Dickson Concepts, a Hong Kong luxury goods company which owns Harvey Nichols and also operates retail stores in Asia under the Roger Vivier and Tod’s brands, saw turnover fall 42.7% to GBP93.4 million. However, a “substantial increase in profit contribution from the investment portfolio, a doubling of profit in Taiwan, profit contribution from China and tight control in operating costs at all levels of operation” helped the company turn to a profit.

Harvey Nichols owner posts half-year profit despite lower sales