Pacific Textile Holdings posts 24% growth in H1 revenue

11 Dec '13

2 min read

Despite global economic uncertainties, Hong Kong’s Pacific Textiles Holdings Ltd, an investment holding company which engages in the manufacture and trading of textile products, witnessed a robust growth in revenues in the first half of the financial year 2013-14.

Consolidated revenue rose by 24 per cent to HK$ 4,087.5 million in the six months ended September 30, 2013 from HK$ 3,294.3 million in the same period a year ago driven by higher production capacity with additional warehouse spaces and an improvement in internal logistics.

The robust consolidated revenue growth was buoyed by an impressive rise in sales volume which increased to 101.9 million pounds in the half year ended September 30, 2013 from 82.1 million pounds in the same period last year.

Pacific Holdings Limited continues to rely on its top five customers for sales growth as their contribution in total revenue increased to 65.6 per cent in the six months ended September 30, 2013 from 58.6 per cent in the year ago period.

The company’s major markets are the People’s Republic of China, South East Asia, Hong Kong and Sri Lanka.

Amidst improved efficiency due to stringent cost control measures, Pacific Holdings Ltd witnessed a jump of 39.4 per cent in consolidated net profit attributable to equity shareholders at HK$ 648.7 million in the six months ended September 30, 2013, year on year.

Headquartered in Hong Kong, Pacific Textiles Ltd is a leading manufacturer of customized knitted fabric. The company’s finished fabrics are used in a broad range of garments, including men’s, women’s and children’ clothing, sportswear, swimwear and inner-wear.

Fibre2fashion News Desk - India