HONG KONG Feb 21 Esprit Holdings Ltd
said on Friday it had swung into profit in the first half of the
year, helped by its plan to cut costs and revamp its supply
The clothing retailer made a net profit of HK$95 million
($12.25 million) in the six months ended Dec. 31, compared with
a loss of HK$465 million for the same period a year earlier.
The company last made a profit in the period ending June
Esprit, which forecast a first-half profit last month, also
repeated a warning that the second half of the year is typically
First half turnover fell to HK$12.81 billion from HK$13.55
billion last year.
Shares of Esprit are about flat so far this year compared
with a roughly 3.5 percent decline in the benchmark Hang Seng
($1 = 7.7556 Hong Kong dollars)
(Reporting by Clare Baldwin; Editing by Miral Fahmy)