Giordano announces a positive profit forecast for the 6 months ending Jun 30

Giordano International Limited (hereinafter referred to as "Giordano") has announced a positive profit forecast. The company expects to achieve a net profit of HKD 170 million to HKD 200 million for the six months ending June 30, 2023, representing a growth of 75% to 106% compared to the same period in 2022.

In its announcement, Giordano stated that the substantial increase in net profit is primarily due to improved sales, increased gross profit margin, and effective management of operating expenses. Additionally, the company reported sales and profit growth in its three major markets.

Furthermore, according to Giordano's financial report for the fiscal year 2022 released in April of this year, the company achieved operating revenue of HKD 3.799 billion from January 1 to December 31, 2022, representing a year-on-year growth of 12.40%. The net profit reached HKD 268 million, indicating a year-on-year increase of 41.05%. The basic earnings per share were HKD 0.17.

According to the information available, Giordano is a Hong Kong investment holding company primarily engaged in the clothing retail business. Its products include men's and women's clothing, children's clothing, and accessories under brands such as Giordano, Giordano Junior, Giordano Ladies, and BSX.