HONG KONG: Esprit Profits Up 61 Per Cent, Plans US Growth
The company posted a profit of HK$927.21 million (US$119m) for the 12 months to June 30, with turnover up 14 per cent at HK$9.22 billion and finance costs down 64 per cent to HK$13.9m from HK$38.3m in 2001.
Esprit, which counts Macy’s and Nine West among its US customers, said its results were boosted by strong sales and a cut in corporate tax rates in Germany, one of its main markets.
It also revealed plans to invest HK$400m (US$51.2m) in expanding its worldwide retail space by the end of June 2003 and said it wants to boost turnover in North America to US$100m by the end of June 2004.
Companies: Esprit Holdings
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