BRIEF: Crocodile’s loss narrows sharply

Clothing brand Crocodile Garments Ltd. (0122.HK) announced its revenue rose 10% to HK$95 million($12.2 million) in the 12 months through July 31, while its loss narrowed by 68.9% to HK$33.84 million. Its gross profit margin for the period fell by two percentage points to 82%, and same-store sales increased by double digits.

The company also proposed a reverse share split on a 20-for-1 basis. It said the trading unit of each lot will also be changed from the current 1,000 shares to 2,000 shares.

By Lau Chi Hang

To subscribe to Bamboo Works free weekly newsletter, click  here