The High-End Men's Wear Of Feng's Group Is Expected To Increase Sharply In The First Half Of The Year.

Trinity Ltd., Britain Men's wear brand Kent & Curwen stores

Following the announcement of CEO's downfall earlier this month, Trinity Ltd. 0891.HK (0891.HK) Li Bang Holdings Limited, a high-end menswear retailing group in Hongkong's Feng Shi Group, issued an earnings warning on Wednesday, expecting a sharp increase in group losses in the first half of the year.

Trinity Ltd., Li bang, said the retail market in Hongkong and Macao continued to slow down due to the decrease in Chinese tourists and the sluggish local consumption, and the group's performance was therefore affected. market Generally, price reduction and consumption are weak and the situation is becoming more and more serious.

Based on this environment and market downturn, Trinity Ltd. group has recently appointed a new CEO, replacing Richard Samuel Cohen by Jeremy Paul Egerton Hobbins.

In the Ying police announcement, Trinity Ltd. Li Bang said that the new CEO Jeremy Paul Egerton Hobbins will consolidate the senior management and business operation structure, so as to optimize production, inventory management and supply chain, and the operation will have a one-time cost in the first half and second half. According to the preliminary assessment of unaudited accounts and expected June performance before the first 5 months of May 31st, the group management expects that in the first half of June 30, 2016, there will be a significant loss of business compared with the first half of fiscal year 2015, which has been credited to the acquisition of Gieves & Hawkes in the same period last year. The HK $50 million may not appear in the current year.

By the end of the first half of fiscal year 2015, the net loss of Trinity Ltd. in the first half of fiscal year was HK $47 million 412 thousand, or HK $2.7 per share, while HK $1 billion 6 million 400 thousand in the period and HK $20.1%, which accounted for half of the group's share and the largest mainland market income. The decrease in the mainland market was 22% to HK $494 million 900 thousand. The Hongkong market also made a big difference, with a decline of 23.2% to HK $296 million 600 thousand. The group's third largest markets, the Taiwan market and the four largest market in the same period, also declined in the UK market. The group's same store recorded a 15.9% decline in the first half of the year.

In addition to the expected medium term losses, Trinity Ltd. said at the same time, "unless the market conditions improve significantly, the loss in the 2016 fiscal year will also intensify.

According to statistics, by the 2015 fiscal year of December 31, 2015, Trinity Ltd. had lost its net profit to HK $88 million 518 thousand, while the net profit in the 2014 fiscal year was HK $161 million.

Wednesday's closing, Trinity Ltd. (0891.HK) Li Bang shares reported HK $0.59, or 1.724%, which has fallen nearly 46.85% to the end of the year, down 63.80% in the past year.