Home / Knowledge / News / Apparel/Garments / YGM Trading posts 2.6% dip in H1 sales
YGM Trading posts 2.6% dip in H1 sales
18
Dec '13
Leading marketer and builder of international apparel brands in Asia, Hong Kong’s YGM Trading Ltd witnessed a dip in sales in in the first half of the current financial year 2013-14.
 
Dragged down by weakness in its garment business, total consolidated sales of YGM Trading fell 2.6 per cent to HK$ 589.7 million in the six months ended September 30, 2013 from HK$ 605.2 million in the same period a year ago.
 
Sales of garments, the company’s major business, fell 2.3 per cent to HK$ 515.7 million in H1 FY 2013-14 from HK$ 527.9 million in the same period a year ago.
 
A deteriorating global economic outlook amidst rising fears of the US Federal Reserve tapering its record stimulus program, coupled with a record long recession in major Eurozone economies and a deepening slowdown in mainland China weighed on consumer spending, taking toll on the company’s business in the first six months of FY 2013-14.
 
Total income of licensing of trademarks from external customers witnessed a decline of 6.5 per cent to HK$ 51.5 million in the six months ended September 30, 2013 from HK$ 55.1 million in the same period a year ago.
 
Profit from the company’s principle business, or garment sales that includes manufacturing, retailing and wholesaling of branded garments in the Greater China region, fell by 8.4 per cent to HK$ 80.1 million in the six months ended September 30, 2013 from the same period a year ago.
 
Owing to a reversal of indemnity liabilities, the company posted a consolidated profit attributable to equity shareholders of HK$111.1 million in H1 FY 2013-14.
 
Despite a challenging economic outlook, YGM Trading Ltd is hopeful that brand expansion may spark a revival of sales growth.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search