Tuesday, August 4, 2020
Martin Hennecke

Prada loses 180m euros amid Asia-Pacific slump
Fashion retailer Prada (1913) recorded a net loss of 180 million euros (HK$1.64 billion) during the first half of this year, with Asia-Pacific retail sales falling 18.8 percent as Hong Kong and Macau markets suffer from the pandemic. Losses per share were 0.70 euros and the company has suspended dividends. Retail net sales for the first half this year totaled 835 million euros, down 32 percent year-on-year. Meanwhile, International Housewares Retail (1373), the parent company of retail chain JHC, said full-year net profit as of the end of April grew 26.8 percent to HK$151 million, with revenue up 8.2 percent to HK$2.54 billion. Earnings per share during the financial year was 21.1 HK cents and it declared a final dividend of 11 HK cents. Revenue from Hong Kong also rose 8.1 percent to HK$2.24 billion during the financial year. Elsewhere, theater operator IMAX China (1970) recorded an interim net loss of US$35.25 million (HK$275 million) for this year ended June, with revenue falling 88.8 percent to US$6.66 million. The company saw a loss of US$10 cents per share, but shareholders can receive an interim dividend of US$2 cents. Partial theatres have been allowed to reopen since July after prevention and control measures, but the company's outlook is still uncertain, it said.

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