Lifestyle International sees profit plunge by half even as sales rise at its iconic Sogo stores in Hong Kong

//Lifestyle International sees profit plunge by half even as sales rise at its iconic Sogo stores in Hong Kong

Lifestyle International sees profit plunge by half even as sales rise at its iconic Sogo stores in Hong Kong

Lifestyle International Holdings, the operator of Hong Kong’s popular Sogo department stores, saw its net profit plunge by a half last year even as sales and turnover grew.Total proceeds from sales jumped 14 per cent to HK$11.7 billion (US$1.5 billion), while turnover grew 16 per cent to HK$4.36 billion (US$555 million), company said on Monday.That was not enough to prevent net profit falling by almost 50 per cent to HK$1.69 billion (US$ 215 million), roughly in line with the HK$1.7 billion…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-03-04T12:22:53+00:00 March 4th, 2019|Business|Comments Off on Lifestyle International sees profit plunge by half even as sales rise at its iconic Sogo stores in Hong Kong