Win Hanverky (03322) released its interim performance for the six months ended June 30, 2024, with earnings of 17.57 billion Hong Kong dollars...
According to reports, revenue from continuing operations increased by 18.0%, mainly due to significant improvement in inventory overstock issues in the sportswear production business and a rebound in customer orders from the European market driven by rising consumer demand, especially from major sports events.
Earnings from continuing operations increased by 18.0%, primarily due to significant improvement in inventory overstock issues in the sportswear production business and a rebound in customer orders from the European market driven by rising consumer demand, especially from major sports events.
Gross profit from continuing operations increased by 34.5%, while the gross margin increased by 2.3 percentage points to 18.6%, resulting from the rebound in customer orders from the sportswear production business, which improved capacity utilization and operational efficiency. As a result, the operating loss was significantly reduced to 62 million Hong Kong dollars. The operating loss was mainly attributed to the ongoing operation of the high-fashion retail business, which recorded an operating loss of 52.2 million Hong Kong dollars due to continued weak consumer consumption.