Luxury retailer Dickson Concepts (International) has seen its first-half earnings tumble 24.7% after its license to distribute Polo and Ralph Lauren items in Asia expired at the end of last year.

The company, which operates more than 430 stores in the region including Brooks Brothers, Tommy Hilfiger, Harvey Nichols and Tod's, said profit in the six months to 30 September fell to HK$61.1m (US$7.9m), down from HKD81.2m a year earlier.

Turnover dropped 18.4% to HK$1,450.3m, but rose 14.6% on a like-for-like basis.

The company is launching American Eagle Outfitters in Hong Kong in March 2011, followed by stores in Shanghai and Beijing later in the year. But its license to distribute Tommy Hilfiger in China expires in August 2011.

Executive chairman Dickson Poon Dik-sang said the group is "cautiously optimistic" about its future prospects amid signs of an improvement in the global economy.