Summary by Moomoo AI
Giordano int'l announced unaudited interim results for the six months ending on June 30, 2024, showing that revenue remained the same when calculated at fixed exchange rates, but fell 3.4% due to currency fluctuations. Revenue in Greater China fell by 5.1%, continuing its decline since the second half of 2023. Gross margin slightly increased to 58.9%, but gross margin fell by 3.1% annually. Operating expenses as a percentage of revenue rose to 49.5%, primarily due to one-time expenses incurred in response to a special meeting. The company's shareholders' attributable net profit was HKD 0.12 billion, down from HKD 0.19 billion in the same period last year. In the second quarter, the company implemented a series of quick measures that have shown preliminary results. Inventory remained stable, with a net cash inflow of HKD 0.265 billion and a net cash balance of HKD 0.72 billion. Basic earnings per share were HKD 0.074, and the Board of Directors declared a mid-year dividend of HKD 0.08 per share.
