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CROCODILE (00122) sees to swing to loss in 1H
14 Feb 2020
(Infocast News) Crocodile (00122) announced that the group’s unaudited interim results for the six months ended 31 January 2020 is expected to deteriorate greatly and record a consolidated loss attributable to owners of the company (2019: profit of HK$41.61 million).

The great deterioration in the group’s results is primarily due to the substantial losses arising from the revaluation of the group’s investment properties and the worsening performance of the garment business during the period.

In respect of the group’s garment business, the relentless social event in Hong Kong seriously disturbed its operation as being forced to shorten opening hours or even close up shops. The tense sentiment also deterred numerous tourists from visiting Hong Kong. Worsened by the escalation of the Sino-United States trade war in most part of the period, the absurd warm weather in the fall/winter season and the outbreak of coronavirus during the Lunar New Year, the consumer
spending ability and desire were nosediving.

(WL)
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