Hong Kong-listed apparel retailer Giordano has informed shareholders in a positive profit alert that its soon-to-be reported profits may have doubled.
According to unaudited accounts for the six months to June 30, the group expects net profit to be in the range of US$21.71 million to $25.55 million (HK$170 million – $200 million).
“The profit surge for the period was primarily due to improved sales, increased gross margin, and controlled operating expenses,” the retailer said in the statement.
The group’s three major markets – Greater China, Southeast Asia and the Gulf Cooperation Council – have all reported growth in sales and profit.
The company’s auditors are finalising and reviewing the unaudited management accounts for the interim period and will publish them early next month.
