Loss worsens at Liquor retailer Silver Base

Business | 26 Jun 2019 6:41 pm

Silver Base (0886) reported today its net loss for the year ended March 31 widened by 7.2 percent to HK$145.8 million.

Revenue at the liquor retailer dropped by 26.6 percent to HK$1.7 billion year-on-year due to the adjustment of sales proportion of low-gross profit margin and non-liquor products, including sugar and cooking oil.

The company recorded a loss per share of 6.43 HK cents, 7.5 percent more than a year ago.

Chairman and founder, Liang Guoxing said the company will only consider high-gross profit margin products in other segments such as baby formula.

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