Plunging gross margins and foreign exchange sent comprehensive net income at the apparel maker down 84% to HKD 25,492,000 ($3.3 million) in the fiscal first half ended Sep. 30 from HKD 154,673,000 last year despite 26% higher revenues of HKD 1,476,600,000 ($188.6 mm) vs. HKD 1,176,471,000. Excluding comprehensive items and a one-time gain last year on the sale of a subsidiary, the bottom line was off 9% to HKD 101.1 million from HKD 110.5 million. Gross margin contracted 370 basis points to 15.9% due to higher outerwear materials costs and labor costs in China. SG&A spending was up HKD 17.4 ... Log in to view full article.