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Hong Kong firm Sterling Group reports FY21 revenue of HK$371 mn
29 Jun '21
1 min read
Pic: Sterling Group
Sterling Group, a Hong Kong-based investment holding company principally engaged in manufacturing of apparel products, has reported 37.2 per cent revenue decline to HK$371.3 million in fiscal 2021 ended on March 31, 2021, compared to HK$590.8 million in the previous fiscal. The company’s loss for the year reduced to HK$35.3 million (HK$59.5 million).
Gross profit for FY21 slipped to HK$43.8 million (HK$111.4 million), while loss before income tax was HK$35.3 million (HK$59.5 million).
Geographically, Sterling Group’s revenue from US decreased to HK$349.4 million (HK$530.3 million), whereas sales from Italy plunged to HK$18.9 million (HK$53.9 million). Moreover, UK sales remained stagnant at HK$1.8 million.
Fibre2Fashion News Desk (JL)
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Navin Sharma
Yash Textile Machines Private Limited
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