Giordano’s positive performance in Greater China is likely to boost the apparel retailer’s net profit by 29 per cent in FY23.
The company’s full-year net profit is projected to grow to HK$325-345 million ($41.6-44.2 million) during the year.
In the first six months ended June 30, the company booked a net profit of HK$190 million and anticipates its net profit to range between HK$135 million to HK$155 million in the second half ended December 31.
The company attributes this rise in performance to its efforts towards streamlining business, cost control measures and brand upgrading activities.
Earlier last year, Giordano forayed into the Southeast Asia and Gulf Cooperation Council markets as geopolitical tensions restricted economic activity in Mainland China and Hong Kong.
The company plans to further expand in other developing economies through franchising and licensing.
