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Furniweb released its interim results, with shareholders' attributable net profit increasing by 74.6% year-on-year to 4.351 million ringgit.
Furniweb (08480) has released its six-month results as of June 30, 2024, with revenue of 85.372 million ringgits, a decrease of 20.15% year-on-year; net profit of 4.351 million ringgits, an increase of 74.6% year-on-year; and basic earnings per share of 0.72 ringgits. The announcement stated that the decrease in revenue was mainly due to the decrease in energy efficiency and the contribution of the production department's revenue in this period compared to the same period in 2023.
Furniweb (08480) has announced its interim results, with shareholders' attributable profit of MYR 4.351 million, up 74.6% year-on-year.
Furniweb (08480) has released its six-month performance ending on June 30, 2024, in which the group has achieved revenue...
FURNIWEB: INTERIM RESULTS ANNOUNCEMENTFOR THE SIX MONTHS ENDED 30 JUNE 2024
China Textile Import and Export Chamber of Commerce: China's textile industry foreign trade is expected to continue the steady recovery trend in the second half of the year.
From January to June, the trade volume of textile and outfits reached 153.57 billion US dollars, a year-on-year increase of 1.7%, of which the export amount was 143.24 billion US dollars, an increase of 1.6%, and the import amount was 10.33 billion US dollars, an increase of 3.8%. The cumulative trade surplus was 132.91 billion US dollars, an increase of 1.4%.
GTJA: Currently, the downstream inventory clearance of the footwear and apparel industry has basically ended, and the trend of order recovery is not a concern.
At present, the downstream destocking has basically come to an end. Judging from the order tracking situation of the top manufacturing companies, the trend of order recovery is secure. Especially the leading companies have the logic of seizing market share and expanding customer base, which is worth looking forward to.
Changjiang Securities' Special Report on Textiles, Outfits, and Luxury Goods: Weak Demand in North America, and Elasticity of Replenishing Inventory Needs Observation.
Looking ahead, it is expected that inventory replenishment will continue, with the elasticity of replenishment depending on the strength of demand recovery at the end. The overseas apparel retail industry has gradually entered the tail end of destocking since 2022Q3, and the pace and continuity of export chain recovery depends on the pace of replenishment, while the elasticity of recovery depends on the strength of demand recovery at the end.
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