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

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search