Moiselle expects annual profit to drop

The company told the Hong Kong Stock Exchange a preliminary assessment of the group’s unaudited consolidated management accounts, showed the significant decrease in turnover was caused by ‘weak consumer sentiment and sluggish retail consumption in Hong Kong’ and a decrease in the turnover by tourists from Mainland China. The company’s deterioration of operating environment in Mainland China was also mentioned in the warning, as one of the causes for the significant decrease in turnover and operating margin, the filing mentioned. According to an interim report for the first six months of 2015 published by Moiselle in September last year, the company recorded a loss of HK$31.9 million (US$4.1 million/MOP32.85 million) as turnover fell by 21 per cent year-on-year to HK$161.2 million, while the gross profit margin decreased to 76 per cent compared with 82 per cent in the same period of last year.