SBS Zipper:Hong Kong's Bossini International's revenue at $33.97 mn in H1 FY24-Nylon Zippers,Metal Zippers,Plastic Zippers,Recycle Zippers

Hong Kong's Bossini International's revenue at $33.97 mn in H1 FY24

Pic: Bossini International

Insights

Bossini reported an 11 per cent drop in H1 FY24 revenue to HK$265 million (~$33.97 million), with gross profit down 17 per cent to HK$130 million.
Gross margin fell 4 percentage points to 49 per cent.
Despite this, losses narrowed to HK$52 million from HK$82 million, with basic loss per share improving to HK$1.56 cents from HK$2.96 cents in H1 FY23.

Bossini International Holdings Limited, a global apparel brand based in Hong Kong, has reported a 11 per cent fall in revenue to HK$265 million (approximately $33.97 million) for the first half of fiscal 2024 (H1 FY24), down from HK$298 million in the first half of fiscal 2023. This decline in revenue also impacted the group's gross profit, which decreased by 17 per cent to HK$130 million, compared to HK$157 million in the corresponding period last year. Consequently, the gross margin contracted by 4 percentage points to 49 per cent, down from 53 per cent in H1 FY23.

Despite the challenging market conditions, the group reported a reduction in its loss for the period attributable to owners, which amounted to HK$52 million. This represents an improvement from the HK$82 million loss recorded in the same period last year. The basic loss per share also improved, decreasing to HK$1.56 cents from HK$2.96 cents in H1 FY23, the company said in a press release.

Bossini reported an 11 per cent drop in H1 FY24 revenue to HK$265 million (~$33.97 million), with gross profit down 17 per cent to HK$130 million. Gross margin fell 4 percentage points to 49 per cent. Despite this, losses narrowed to HK$52 million from HK$82 million, with basic loss per share improving to HK$1.56 cents from HK$2.96 cents in H1 FY23.

“The group is actively promoting brand transformation by integrating professional cycling sports elements into product design. This aims to attract more energetic young consumer groups and serve people’s pursuit of a healthy leisure lifestyle. It is expected the rebranding effort will require continuing investments over the next few years, with resources concentrated on product development and channel expansion,” said Cheung Chi, chief executive officer of Bossini.

SBS Zipper News Desk (DP)

More Bossini International Holdings Limited News...

Prev：Japan sees 14.9% rise in clothing & textile imports in July 2024 - Textile Fashion News SBS Zipp Next：UK retailer ASOS expands footwear range with renowned VEJA collection