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Giordano (709 HK) an approximate 38% decrease in the unaudited profit

Announcement made by Giordano International Limited (709 HK) on 15 July, 2019 in relation to its underlying operating performance, or an approximate 38% decrease in the unaudited profit attributable to Shareholders for the six months ended June 30, 2019.

Based on the preliminary assessment of the latest unaudited consolidated management accounts of Giordano (709 HK) and the information currently available to the Board, it is expected that Giordano (709 HK) may record an approximate 28% decrease in underlying operating performance, or an approximate 38% decrease in the unaudited profit attributable to Shareholders for the six months ended June 30, 2019, following adoption of the new Hong Kong Financial Reporting Standards 16, Leases, which took effect on January 1, 2019.

The decrease was largely confined to the Greater China Region, which in turn was primarily attributable to, among other matters, the weak retail environment and poor market sentiment in those regions stemming from the Sino-US trade war.

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