ONITE, the Hong Kong-listed luggage-maker, said net sales topped $2bn (£1.21bn) for the first time last year thanks to a continued recovery in the world travel market.
The firm yesterday posted an 18.6 per cent rise in profit to $176.1m for 2013 on sales up 16.1 per cent to $2.04bn, driven by a strong performance in North America and Asia.
Sales in the US and Canada grew by almost a quarter (24.4 per cent) while in Asia – Samsonite’s biggest market – sales grew by 16 per cent.
Within Asia, China posted sales up just 5.3 per cent as the government’s austerity measures dampened demand for high-end business suitcases. It doubled its full-year dividend to 5.7 cents per share.