Intimate apparel retailer Cosmo Lady (China) Holdings is expecting a drop in net profit of about 35 to 40 per cent for the six months ended June 30.
This follows a revenue surge of 23.6 per cent to about RMB4.95 billion for its latest financial year.
Cosmo Lady says the fall, compared to the same period last year, is mainly because of more cautious consumer sentiment amid China’s economic slowdown, plus the the surge of Micronet, an emerging channel that includes intimate wear retailers in China.
Cosmo Lady also says its overall running expenses have increased as a percentage of revenue.
The company says it will release its audited figures in August.
Cosmo Lady (China) Holdings designs, researches, develops and sells intimate wear.