Retailers' profits heavily fluctuate

Business | Kevin Xu and Gary Poon 30 Apr 2019

Clothing and footwear manufacturer Esprit (0330) posted that its revenue from January to March fell 17.7 percent year-on-year to HK$3.16 billion.

Esprit also recorded a 16.4 percent decrease in total revenue for nine months ended 31 March 2019.

L'Occitane en Provence (0973) announced that its net sales for 2018 ended March 31, 2019 grew 8.7 percent at constant rates and 8.1 percent at reported rates to 1.43 billion euros, while overall same store sales growth remained healthy at 1.8 percent.

The French cosmetics maker and retailer said net sales in China increased by 12.1 percent and net sales in Hong Kong climbed 8.6 percent in local currency.

China's SUV maker Great Wall Motors'(2333) net profit for the first quarter slumped 62.8 percent from a year ago to 770 million yuan (HK$897.11 million), far worse than market expectations, with operating revenue dropping 14.8 percent to 22.62 billion yuan.

Basic earnings per share in the first quarter fell by 62.84 percent to 0.08 yuan per share, according to Great Wall Motors.

Meanwhile, net profit and revenue of WH Group (0288) decreased 21.3 percent to US$196 million and 6 percent to US$5.28 billion.

The firm said the average hog price in the mainland and the US was 13.3 yuan per kg and US$1.0 per kg, a decrease of 2.9 percent and 17 percent respectively.

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