Hong Kong fashion retailer Glorious Sun sales fall 8% in first half

Glorious Sun Enterprises, a Hong-Kong based investment holding company engaged in apparel retailing, reported a 7.8 per cent revenue decline to HK$421.9 million (Hong Kong dollar) in its first half (H1) of FY21 ended on June 30, 2021, over the same period of prior fiscal. However, profit for the period rose to HK$38.8 million (H1 FY20: HK$37.5 million).

 

Glorious Sun Enterprises, a Hong-Kong based investment holding company engaged in apparel retailing, reported a 7.8 per cent revenue decline to HK$421.9 million (Hong Kong dollar) in its first half (H1) of FY21 ended on June 30, 2021, over the same period of prior fiscal. However, profit for the period rose to HK$38.8 million (H1 FY20: HK$37.5 million).#

Interior decoration and renovation segment recorded revenue of HK$235.9 million (HK$314.3 million), while export operations revenue increased to HK$134.3 million (HK$91.2 million). The company’s retail franchise and others segment revenue during the six-month period expanded to HK$32.9 million (HK$19.2 million) due to improvement of design and mix of Jeanswest products.

 

Glorious Sun Enterprises, a Hong-Kong based investment holding company engaged in apparel retailing, reported a 7.8 per cent revenue decline to HK$421.9 million (Hong Kong dollar) in its first half (H1) of FY21 ended on June 30, 2021, over the same period of prior fiscal. However, profit for the period rose to HK$38.8 million (H1 FY20: HK$37.5 million).#

Gross profit for H1 of FY21 surged to HK$77.6 million (HK$74.3 million), while profit before tax stood at HK$43.0 million (HK$41.9 million).

 

Glorious Sun Enterprises, a Hong-Kong based investment holding company engaged in apparel retailing, reported a 7.8 per cent revenue decline to HK$421.9 million (Hong Kong dollar) in its first half (H1) of FY21 ended on June 30, 2021, over the same period of prior fiscal. However, profit for the period rose to HK$38.8 million (H1 FY20: HK$37.5 million).#

“Looking forward to the ensuing months of this financial year, the macroeconomic development will be highly hinged on the effective containment of COVID-19 virus variants and alleviation of Sino-American conflicts. The management cautiously expects the group to perform better in the second half of the year,” the fashion retailer said in a statement.