Brief: Stella International updates on forecast for second half of year

Stella International Holdings

13/07/2016 10:34

July 13 (Reuters) - Stella International Holdings Ltd  1836.HK : 
 
 * Stella holdings-business update of the group for the second quarter of 2016 
 * For the three months ended 30 June, revenue of the group was approximately 
US$437.2 million 
 * Fall in revenue was attributable to fewer orders for the group's footwear 
products during the periods under review 
 * Says group expects the operating environment in the second half of the year 
to be challenging 
 * Shipment volumes likely to be impacted by the recent `brexit' vote" 
 * Says "expected fall in shipment volumes will be partially cushioned by rising 
demand for sports fashion footwear." 
 * Group will continue to enforce strict cost controls 
 * Increasingly vitriolic presidential election campaign in US, coupled with 
slowing global economy, may affect demand for footwear products 
 * Implementation of many of measures is already well advanced and is expected 
to alleviate the decline in group's margins in H2 
 * Source text for Eikon  ID:nHKS97tS8S  
 
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