Joyce Boutique Holdings announced on Monday it is to wind down its unprofitable Ad Hoc youth fashion operation after posting a first-half group net loss of HK$26.06 million. The high-end fashion retailer reported a net profit of HK$8.38m for the six months to June 30 but said its Ad Hoc division remained the group's largest loss contributor with a first-half net loss of HK$8.7 million.