Women's apparel retailer Moiselle International Holdings Ltd saw its net profit rise by one per cent to HK$42.38 million (US$5.43 million) in the year ended 31 March. Turnover rose 10.7 per cent to HK$191.5 million

The company, which operates 31 retail stores in Hong Kong under the Moiselle and imaroon brands and about 20 franchised outlets in mainland China, said expansion and cost controls helped cushion it from a tough economic climate.

Boby Chan, chairman and managing director, said Moiselle aims to expand its Asia presence beyond Hong Kong and China. "Looking ahead, prospects of the enormous PRC market remain bright," he said.

The expected benefits of China's late 2001 accession to the World Trade Organisation (WTO) are likely to "create huge potential for our business as purchasing power and demand for new, stylish apparel and new brands in the PRC retail market increases."