Casual wear chain Giordano International expects rents in Hong Kong to soften due to a slowdown in retailing, after the company reported a better-than-expected 1.7 percent growth in interim net profit.
Giordano shares rose 5.2 percent to HKD5.64 (USD0.73) on Wednesday after the Hong Kong-based clothing retailer said the net profit for the six months to June rose to HKD352 million from HKD346 million a year earlier. It added that the net profit excluding earnings from two one-off asset disposals actually fell 11 percent for the period.
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(Source: scmp.com)