Turnaround for Moiselle
High-fashion brand Moiselle International expects to turn around a loss with a net profit for this year, to the end of March.
Based on the valuation of the group’s investment properties, it expects to record a “substantial” increase of about 150 per cent in valuation gains.
Despite this turnaround, the group expects its trading losses to continue, but to narrow by about 60 per cent. It says this will be a result of lower selling and distribution costs through closing underperforming stores, relocating stores and stringent cost management.
Moiselle’s audited annual results are expected to be published on June 22.