Net income attributable to shareholders improved 10% to HK$65,930,000 ($8.4 mm) from HK$59,918,000 in the first half as revenue increased 9% to HK$925,859,000 ($118.2 mm) from HK$845,629,000. While gross margin contracted 20 b.p. to 30.0%, SG&A held to a 1% increase, as a 16% boost in selling and distribution costs was offset by a 6% cut in administrative expenses. Total SG&A leveraged 170 b.p. to 20.8% of sales from 22.5%.

Headwear manufacturing sales were up 12% to HK$604.0 million, driven by increased order volume at the core Bangladesh facility. The segment also ... Log in to view full article.