Giordano International Projects Profit Slump

Giordano International (HK:0709) has released an update.

Giordano International Limited warns of a significant drop in profits for the first half of 2024, projecting earnings between HK$110 million to HK$130 million, compared to the previous year. The decline is attributed to one-off expenses, reduced profits from the South Korean joint venture, poor performance in Mainland China, and weaker business in Hong Kong. Investors are cautioned to exercise prudence when dealing in the company’s shares ahead of the interim results slated for publication in August 2024.

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