HK-listed apparel chain Giordano hits 3-year high after strong results

Giordano International

09/03/2023 06:54

** Shares of apparel retailer Giordano International Ltd
 0709.HK  rise as much as 6.8% to HK$2.20, highest since January
2020
    ** Stock on course for the biggest daily pct rise since Jan.
6, if gains hold
    ** Giordano says its 2022 net profit jumped 41.1% from a
year ago to HK$268 mln ($34.14 mln), with revenue surging 12.4%
year-on-year to HK$3.8 bln 
    ** Company says business environment in 2023 will be less
volatile as most regions have ceased social distancing measures
and it will further build its footprint in developing economies 
in India, Mauritius, Kenya, Ghana and Egypt
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.1%, while the Hang Seng Consumption Index  .HSCGSI  eases 0.4%
    ** The Hang Seng Composite Index  .HSCI  slips 0.2% while
the benchmark Hang Seng Index  .HSI  edges up 0.1%

($1 = 7.8499 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))