Mid-price fashion retailer Esprit Holdings Ltd has enjoyed a 67 per cent hike in full-year net profit, boosted by better sales and margins.

Full-year profit totalled HKD3.34 billion on a 26 revenue rise to HKD20.63bn, with second-half net profit totaling HKD1.69bn compared with HKD1.11bn a year ago.

The company said that its US fashion retail arm had continued to suffer from sales losses of about HKD20 million and that UK trading had also produced a loss.

Heinz Krogner, deputy chairman and chief executive officer, blamed the poor US results on misjudgement of the market and shoppers' desires.

However, the company sees continued sales increases within Asia and parts of Europe such as France, Austria and Scandinavia.