HONG KONG: Silk Apparel Producer Posts Profits Fall
Hong Kong-based silk apparel manufacturer, High Fashion International Ltd, on Tuesday blamed the world economic slowdown for a sharp fall in full-year profits to HK$101.9 million (US$13.06m) from the previous year's HK$133.9m The group said the devastating impact on consumer spending from the September 11 terrorist attacks in the United States was one of the key factors behind the slump.
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