HONG KONG: Kingmaker Footwear Profits Plunge HK$37m
Shoe manufacturer and leading Timberland and Skechers supplier, Kingmaker Footwear Holdings Ltd, has posted a 25.5 per cent slide in full-year net profit to HK$111 million from HK$148.8m in the year-ago period.
The firm said rising leather prices, retail discounting and lower productivity at a new Vietnamese plant were behind the plunge, while turnover was flat at HK$1.04 billion.
Kingmaker added babies and children's sales made up 40 per cent of sales, with casual sales garnering around 32 per cent.
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