Chinese retailer Pou Sheng International has issued a profit warning, forecasting a first-half loss.

In an announcement on the Hong Kong Stock Exchange, the company said it expects to record a loss for the half ended 31 March, compared to a profit in the same period of the previous year.

It attributed the loss to the end of its exclusive distribution agreement for Converse products in the People's Republic of China, combined with increases in selling and distribution costs, as well as higher discounts to clear excess inventory.

The company will release its first-half results in May.