Crocodile Garments has warned that it expects a “significant decrease” in profits for the year ended July 31.
The group says this is primarily because of the weaker performance of the garment business and a lower revaluation gain for its investment properties.
Crocodile Garments is mainly involved in the manufacture and sale of garments in Hong Kong, Macau and China, as well as property investment in Hong Kong and China.
Based on its preliminary unaudited consolidated management accounts, the company says its expects its profit drop to be as much as HK$2 million (US$258,000), from about $51 million for the corresponding period last year.
The group expects to publish its audited annual results late this month.