Reversal of fortune for Bossini International
Garment company Bossini International expects to record a loss attributable to its owners as high as HK$15 million (US$1.9 million) for its first half.
It mainly attributes this to lower profit from its retail and export franchising business in Hong Kong and Macau because of a continuously weak and competitive retail environment as well as foreign exchange fluctuation.
For the same period a year earlier, the group had $17 million profit attributable to its owners.
While this time there is a loss ranging from about $10 million to $15 million, the company says it is still finalising its interim results for the six months to the end of December.
Unaudited interim results for the group are expected to be announced late February next month.