Time Watch Investments, the retailer of watches in China and Hong Kong, says profit attributable to equity holders of the group rose by 50% y-o-y to HK$25.1 million ($4.5 million) for the 3 months ended 31 March 2010 (3QFY2010).

Revenue rose by 51% or HK$139.3 million to HK$414.3 million on increased contributions from the group’s higher margin retail segment.

Revenue from the trading in watch movement business segment recorded an increase of 13% to HK$63.3m million.

Revenue from the retail business segment increased by 83% to HK$288.1 million as a result of sustained market demand for its timepieces in China, coupled with contributions from the group’s Tshimshatsui and Suzhou shops.

Revenue from the OEM business segment grew by 3% to HK$59.6 million.

Time Watch says sustained growth of China’s economy backed by stimulus initiatives promulgated by the government continues to benefit the retail industry.

Reflecting the stronger consumer confidence, total spending on consumer goods for January – February 2010 grew 17.9% year-on-year to RMB 3.6 trillion.