Home / Knowledge / News / Apparel/Garments / Yangtzekiang Garment Ltd posts dip in H1 sales
Yangtzekiang Garment Ltd posts dip in H1 sales
20
Dec '13
Amidst a difficult operating environment in China, leading Hong Kong garment manufacturer, Yangtzekiang Garment Ltd or the YGM Group witnessed a dip in revenue in the first half of the current financial year 2013-14.
 
The manufacturer of garments and textiles, Yangtzekiang Garment reported a nearly 17 per cent dip in sales at HK$ 511.8 million in the six months ended 30 September 2013 from HK$ 616 million in the same period a year ago.
 
The company’s core garments business witnessed a significant drop in revenue at HK$ 508 million in the first half of FY 2013-14 from HK$ 612.5 million in the same period a year ago. 
 
Dragged lower by a dip in turnover, the company’s core garments business swung to a loss of HK$ 5.5 million in the six months ended 30 September 2013.
 
The company attributed the weak profitability of its core garments business to its tough manufacturing operation in China. 
 
However, the company has managed to reduce its manufacturing costs in China amidst the shift in its main production base to Guigang since two years ago, while the YGM Group is also optimistic that the merger of two factories in Panyu, China will also improve its factory operations in the country.
 
The company posted an overall profit of HK$ 12.1 million in the six months ended 30 September 2013, compared to a loss of HK$ 17.9 million in the same period a year ago amid the sharp increase in profit from the group’s Wuxi operation due to higher yarn prices and fabric sales.
 
Going forward, the YGM Group expects the second half of the fiscal to remain challenging especially with a difficult business environment surrounding its core garments business. The company is eying production bases in low cost countries for its garment manufacturing business.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search