Bossini losses widen to $195m

Business | Winnie Lee 29 May 2020

Local fashion chain Bossini International (0592) yesterday said that its net loss for the ten months ended April 30 widened to HK$195 million as the Covid-19 outbreak affected operating conditions.

The net loss was about HK$94 million for the six months ended December 31 in 2019.

In the first four months, it lost over HK$100 million.

The operating conditions for the group were further aggravated in the second half of the financial year with the outbreak of the Covid-19 pandemic, as Hong Kong and other core markets where the company operates put into place semi-lockdowns and retail activity came close to a complete halt, the company said in a statement.

The net loss was HK$139 million for the financial year 2018-2019 ended June 30, the annual report stated.

The company expects to announce its annual report for 2019-2020 ended June 30 on mid-September.

The share price of Bossini International rose 11.54 percent to HK$0.435 yesterday. The share price once surged to HK$0.64 on May 22 after the announcement of the acquisition by Dragon Leap Developments, a subsidiary of Viva China (8032), owned by Li Ning's family holdings, on May 15.

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