Local Moiselle outlets’ annual revenue drops 22.7 pct

Moiselle International Holdings Ltd. saw a year-on-year drop of 22.7 per cent in annual revenue from its five local retail stores in the city, amounting to HK$41.44 million (US$5.34 million), as announced yesterday on the Hong Kong Stock Exchange.
The group attributed the slowdown for the fiscal year ending March 31 to ‘Mainland China’s slowing economy’ as well as ‘government measures to advocate frugality’ which the group states as having ‘spilled over into Macau’s retail market’.
The group notes that its local operations ‘remained profitable’, as attributed to the low operation costs of its retail outlets.
The Moiselle group, which engages in design, manufacture, retail and wholesale of fashion apparel and accessories noted a HK$56.5 million loss for the year, with a HK$62.3 million loss from the group’s operations, as compared to the HK$11.33 million recorded in profit and HK$6.64 million in operations recorded in the previous fiscal year.
Operations for the group are concentrated in Hong Kong, which saw revenue amounting to HK$211.13 million, posted a loss of HK$25.22 million. Operations outside Hong Kong, encompassing Mainland China, Taiwan, Singapore and local markets, reached a revenue of HK$185.65 million, yet recorded a HK$47.8 million loss. The group’s Mainland China operations yielded its largest revenue from external customers, amounting to HK$60.13 million, with its local operations contributing the second-highest revenue from external customers for the fiscal year.