Home / Knowledge / News / Textiles / Texwinca Holdings posts 15% dip in H1 revenue
Texwinca Holdings posts 15% dip in H1 revenue
Dec '13
Amidst a challenging business environment, Hong Kong’s textile company Texwinca Holdings Ltd, witnessed a dip in revenue in the first half of the current financial year 2013-14.
The company, which is primarily engaged in the production and sale of dyed yarns & knitted fabrics, reported a 15 per cent decline in sales at HK$ 4,693 million in the six months ended 30 September 2013 from HK$ 5,519 million in the same period a year ago.
The company’s textiles business, witnessed a dip in net sales of 9.2 per cent at HK$ 2,513 million in the first half of FY 2013-14 from HK$ 2,767 million in the same period a year ago amid challenging global market conditions as business from the US market was unfavorable.
Favourable cotton prices in China led to stability in raw materials costs, resulting in an improvement of the gross profit margin of Texwinca Holdings Ltd to 20.9 per cent in the six months ended 30 September 2013 from 13.3 per cent in the same period a year ago.
Net sales from the company’s retail and distribution business fell 20.7 per cent to HK$ 2,172 million in H1 FY 2013-14 from HK$ 2,739 million in the same period a year ago as weak consumer sentiment in China crimped sales.
The group’s garment manufacturing business witnessed a 30.9 per cent rise in sales at HK$ 737 million in the six months ended 30 September 2013 from the year ago period.
Profit attributable to ordinary equity shareholders of the company stood at HK$ 380 million in H1 FY 2013-14.
The company expects a challenging business environment amid sluggish Chinese consumer spending and inventory problems in the country.
However, Texwinca Holdings reckons that its strong competitiveness, measures to improve brand image and operational efficiencies will help the company achieve good results in the second half of the current fiscal.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

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

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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