Lifestyle International saw its net profit growth slow to 12.7 percent in the first half of the year in light of setbacks at its mainland China operations amid fierce competition and a softening in the economy.
The operator of Hong Kong’s Sogo department store and the mainland’s Jiuguang department store saw its net profit increase to HKD909.9 million (USD177.33m) in the six months to June but growth was slashed from 30 percent in the same period last year. Sales grew 10 percent to HKD2.6 billion.
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(Source: scmp.com)