Apparel chain Giordano jumps most in 6 months on upbeat earnings outlook

Giordano International

06/01/2023 06:50

** Shares of casual wear and apparel chain operator Giordano
International Ltd  0709.HK  jump as much as 12.3% to HK$1.92,
their biggest intraday pct gain since June 24, 2022 
    ** The co expects to record net profit of HK$240 mln to
HK$270 mln ($30.74 mln to $34.58 mln) for the year ended
December 2022, an increase of up to 42%, as compared with HK$190
mln profit a year ago  urn:newsml:reuters.com:*:nFWN33Q1C3
    ** Giordano says it expects to post HK$143 mln to HK$173 mln
net profit in the second half, due to sales growth in Southeast
Asia and the Gulf Cooperation Council markets, effective
cost-control measures and as it streamlines business
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.7% and the Hang Seng Consumption Index  .HSCGSI  falls 1.1%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  slip 0.2% each    
    ($1 = 7.8082 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))