NEWS BRIEF: China Lilang’s revenue rises 7.3% in tough retail environment
1234.HK
Menswear and accessories manufacturer China Lilang Ltd.’s (1234.HK) reported its revenue rose 7.3% in the six months to June to 1.6 billion yuan ($223 million), as it outperformed a challenging domestic market where national retail sales only grew 3.7% over the same period. Its profit for the period also increased 3.6% to 280 million yuan, though its net margin declined 0.6 percentage points to 17.5%.
The company’s smart casual collection was the main driver behind its revenue growth, registering a 17.3% jump in sales as a result of in-store promotions. The company said it will officially launch its Munsingwear line of products next year and is preparing to open its first overseas store in Malaysia.
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