Puma Handbags Supplier Net Profit Fell Seven Percent
Beset by rising costs, Puma, and other sports brand and Europe and the United States numerous well-known brands of handbags bedding article handbags group in supplier performance. Bedding article handbag group recently released 2015 earnings, according to the total turnover of hk $659 million, down 19.4% on the previous year. Hk $10 million net profit fell 70% from a year; Gross profit margin of 29.4%. Learned, bedding article handbag main business is in authorized branded and original way, for the European and American famous brand handbag products provide production, design, manufacture, listed in the Hong Kong stock exchange in 2011.
Richard handbags has said, years profit declined significantly, mainly manufacturers from countries such as Vietnam and the Philippines to parity output of goods, make the order for serious pressure, coupled with the rising domestic Labour costs, so that group significantly reduced profits. It is understood that in the first half of last year, the handbag turnover fell 15.2% to hk $327 million; Net profit is only hk $6.172 million, fell 70.7% year-on-year. In fiscal 2014 net profit of hk $33 million, down 53.9% year-on-year.
Dismal performance let Daniel bag is full of worries about the future. Richard bags said, is expected in the coming year will be full of challenges, the United States to raise interest rates, economic weakness in Europe and geopolitical tensions, the global economy continues to slow, in Hong Kong's foreign trade growth, coupled with the rising labor costs, weaken the handbag business profitability. To strengthen management, handbags in the market competition ability, group has invested $12 million at the end of 2015 set up a new factory in myanmar, plan to produce in the end of the year, after the new plant operating, can cut the group's overall average cost of production, enhance the capacity of orders. In addition, the group has own brand in 2015, and the handbag retail business, but the business is still in its early stages of development.
Richard handbags has said, years profit declined significantly, mainly manufacturers from countries such as Vietnam and the Philippines to parity output of goods, make the order for serious pressure, coupled with the rising domestic Labour costs, so that group significantly reduced profits. It is understood that in the first half of last year, the handbag turnover fell 15.2% to hk $327 million; Net profit is only hk $6.172 million, fell 70.7% year-on-year. In fiscal 2014 net profit of hk $33 million, down 53.9% year-on-year.
Dismal performance let Daniel bag is full of worries about the future. Richard bags said, is expected in the coming year will be full of challenges, the United States to raise interest rates, economic weakness in Europe and geopolitical tensions, the global economy continues to slow, in Hong Kong's foreign trade growth, coupled with the rising labor costs, weaken the handbag business profitability. To strengthen management, handbags in the market competition ability, group has invested $12 million at the end of 2015 set up a new factory in myanmar, plan to produce in the end of the year, after the new plant operating, can cut the group's overall average cost of production, enhance the capacity of orders. In addition, the group has own brand in 2015, and the handbag retail business, but the business is still in its early stages of development.
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