[ET Net News Agency, 22 October 2019] Veeko International Holdings Limited (01173) said
as compared to a loss of HK$19.05 million for the six months ended 30 September 2018, the
group is expected to record a significant increase in loss for the six months ended 30
September 2019.
This is mainly due to (i) decrease in sales for both the cosmetics and fashion segments
of the group as a result of the increasing tension of the Sino-American trade war and the
further depreciation of Renminbi during the period, which resulted in the continued
weakness of the retail environment and abatement in consumption sentiments; and (ii) the
provision for onerous contracts of underperforming retail stores expected to be made as at
30 September 2019. (RC)