GOLD’s operating margin, as measured by operating income before depreciation and amortization as a percentage of sales, improved to 16%-17% during 2015 through the first six months of 2016. The net profit margin rebounded to the positive figure at 8% of total revenue during 2014-2015 and 11% in the first half of 2016. Because of a slowdown in the residential property market and high household debt levels, GOLD is challenged to sustain its operating profit margin at around 15% over the next three years.