Apparel brand Giordano saw net income improve last year, thanks to the gradual recovery from the impact of the Covid-19 pandemic.

The company’s attributable net income soared 28.7 per cent to HK$345 million (US$44.1 million) as revenue increased 1.9 per cent to $3.87 billion ($495 million) amid the economic recovery and price increase to support marketing campaigns, along with reduced sourcing costs to improve margins.

Greater China revenue went up 8.2 per cent to $1.54 billion ($196.4 million) while Southeast Asia and Australia revenue advanced 3 per cent to $1.49 billion ($190.1 million).

In the Gulf Cooperation Council, revenue increased 6.5 per cent to $676 million ($86.4 million), however in South Korea it declined 10.9 per cent to US$129.3 million.

The group’s offline sales rose 4.7 per cent while online sales climbed 7.1 per cent, attributed to continued growth in Mainland China.

For this year, Giordano plans to maintain “caution and prudence” citing a challenging business environment.

“Our geographically diversified strategy, cost control and lean balance sheet discipline will be essential to mitigate these business risks. In this situation, ‘cash is king’ is even more relevant,” the company said.

“A favourable business environment will return, and our patience will pay off by grasping the opportunities and leveraging our solid balance sheet.”