Giordano International (HK:0709) has released an update.
Giordano International Limited reported flat year-over-year group revenue after currency impact, with a notable decline in Greater China and a slight increase in gross margin attributed to a change in channel mix. The company’s net profit fell due to one-off non-recurring expenses, a decrease in South Korean joint venture income, and increased operating expenses linked to a business strategy overhaul, despite implementing ‘Quick Win’ initiatives that have shown positive signs. Consequently, the dividend per share has been reduced, although the company maintains a strong net cash balance.
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