Esprit Holdings (00330.HK) announced that the company is expected to record a net loss attributable to shareholders of approximately 0.095 billion Hong Kong dollars for the six months ended June 30, 2024, as compared to a net loss attributable to shareholders of approximately 0.714 billion Hong Kong dollars for the comparative period.
The significant decrease in losses is mainly due to the one-time gain of approximately 3.651 billion Hong Kong dollars generated from the restructuring and spin-off of the company's subsidiary in Europe, partially offset by one-time (i) trademark impairment, leasehold impairment, and property, plant, and equipment impairment of approximately 1.846 billion Hong Kong dollars; and (ii) inventory provision and accounts receivable provision of approximately 1.292 billion Hong Kong dollars.