Esprit Holdings Limited has announced its unaudited financial interim results for the six months ended 30 June 2022. The group has recorded total revenue of HKD 3,626 million for the period, as compared to the total revenue of HKD 3,872 million for the six months ended 30 June 2021 (the “corresponding period”), representing a decrease of 6 percent. The decrease in revenue was primarily due to the depreciation of EUR against HKD. Meanwhile, gross profit margin was 45.8 percent, marginally lower than the corresponding figures of 46.9 percent for the corresponding period.
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As a result, the group recorded an unaudited profit attributable to the shareholders of the company of HKD 13 million for the period (for the six months ended 30 June 2021: HKD 121 million), marking the second consecutive profitable half-year since the financial year ended 30 June 2017. The decrease in profit in the period in comparison to the corresponding period is mainly attributable to the decrease in revenue resulting in the corresponding drop in gross profit; and foreign exchange translation losses of HKD 99 million was incurred for the period as compared to foreign exchange translation gains of HKD 87 million for the corresponding period.
Mr. PAK William Eui Won, Executive Director and Chief Executive Officer, said, “There have been many challenges persisting throughout the first half of 2022, but attributing the success to the group ’s dynamic corporate structure, management team, and dedicated staff at ESPRIT, they have been playing a core role for the company to navigate through such a tough environment and remain marginally profitable during the period. I am pleased to say that the strategies and infrastructure mentioned in the 2021 Annual Report are showing consistent positive results and profitable growth, forming a solid platform for future expansion to new markets. Given a financially strong and healthy balance sheet, the company will continue to invest whenever good opportunities arise.”
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Esprit is upgrading internal digital capabilities, establishing Esprit Futura – in Amsterdam, and launching website and digital commerce platforms in the USA, Canada, Central America and South America. Esprit is re-entering numerous key Asian markets, including Hong Kong, Korea, Taiwan, and the Philippines, in addition to pop-up stores, proprietary websites and partners’ portals.