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Sterling Group Holdings eyes Hong Kong stock exchange

Apparel manufacturer, Sterling Group Holdings, is seeking a listing on the stock exchange in Hong Kong. The group, which supplies international apparel brands in the United States and Europe including the UK and Spain, recently ventured into the business uniform market by supplying flight crew uniforms for US airlines.

It’s confirmed sales orders from all customers for the seven months ended September 30, 2018 amounted to around HK$295 million, of which 29 percent are from new customers.

Sterling operates three production facilities, representing 30 percent of its total sales volume .

The group aims to convert more of its outsourcing to in-house production by purchasing additional machinery for production facilities and factories in its base in China and Sri Lanka.

It reported net profit of HK$31.1 million in 2017, a 117 percent increase from 2015, while revenue grew by 45 percent to HK$671 million during the period.

 

 
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