Sunday, July 22, 2018
Martin Hennecke

Giordano sees the upside
Giordano International (0709) posted a 20 percent jump in interim net profit to HK$245 million, saying local retail sales have not yet bottomed out.

Earnings per share were 15.6 HK cents. The apparel retailer announced an interim dividend of 15 HK cents per share. Sales in the first six months rose 3.4 percent year-on-year to HK$2.62 billion, with gross profit up 3.8 percent to HK$1.57 billion.

Chairman and chief executive Peter Lau Kwok-kuen attributed the positive results to the early Ramadan and strong performance of e-commerce in the mainland.

He said the firm will open more stores in the SAR if rents are reasonable.

Its shares closed yesterday at HK$4.38, up 2.34 percent.

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