Si Jie Global Medium-Term Losses Decreased By 81.3% To HK $331 Million

00330.HK announced that, in the 6 months ended December 31, 2019, the company's income was HK $5 billion 763 million, a decrease of 11.8% compared with the same period last year. The loss of shareholders should be HK $331 million, the loss decreased by 81.3% compared with the same period last year, and the loss per share was HK $0.18.

The decrease in revenue is attributable to the group's strategic consolidation of distribution territory, resulting in an annual reduction of -14.8% in total controllable area, and a strategy to suit group brand behavior to reduce discount oriented sales promotion activities. As the euro weakened against the Hong Kong dollar during the review period (the average exchange rate decreased by -3.8% compared with last year), the income declined by HK $(-14.8% per annualized).

During the period, profitability improved, and basic business pro forma losses amounted to HK $15 million before interest, taxes, depreciation and amortization, almost achieving balance of payments, far better than the HK $94 million in the same period last year. The pro forma loss before interest and tax amounted to HK $219 million, which is also significantly better than that of HK $332 million in the same period last year.