Giordano International Records Lower Profit in H1, Shares down 3%

MT Newswires Live08-15

Giordano International (HKG:0709) recorded a profit attributable to shareholders of HK$120 million for the six months ended June 30, lower than the HK$190 million recorded for the same period last year, a Thursday filing with the Hong Kong Exchange said.

The company saw earnings per share attributable to shareholders of HK$0.074 for the reporting period, as compared to the HK$0.118 per share logged for a year-ago period.

The company's revenue for the first half of the year came in at HK$1.90 billion, lower than HK$1.97 billion recorded a year ago.

The company attributed the decrease in revenue to a decline in revenue from China resulting from the overall economic trend and also as the result of cost-cutting measures taken by the company in China, which resulted in insignificant investment in brand marketing.

The company declared an interim dividend of HK$0.08 per share for the period as compared to the HK$0.17 per share declared last year.

The company's shares were down over 3% in recent trade.

Price (HKD): $1.52, Change: $-0.05, Percent Change: -3.18%

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