• H1 profit declines 42% to HK$34m
  • Revenue falls 8% to HK$1.33bn
  • Company remains cautious in its outlook 

Hong Kong-based apparel brand owner, retailer and franchiser Bossini International has reported a 42% decline in first-half profit after challenging economic conditions in its key markets weighed on sales.

Profit fell to HK$34m (US$4.4m) for the six months to 31 December, from HK$59m the same period of the previous year. Bossini said revenue declined 8% to HK$1.33bn against HK$1.45bn the prior year. 

CEO and executive director Edmund Mak said: "The global economy continues to suffer under the lingering effects of the year 2008/09 financial crises, with the faint global growth in 2012 expected to be looming along in 2013."

Although Bossini expects the retail environment to remain volatile, Mak said it intends to focus on its main markets and roll out its new store concept, which has already launched in Hong Kong.

"Overall, the group's management remains cautiously optimistic. The Bossini brand is now 25 years old and one of the most valued apparel brands in the Asia-Pacific region.

"We will continue to focus on preserving and building the value of this asset as we drive operational excellence, expand franchising opportunities, and work to preserve our unique corporate culture," Mak added.