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Article Date: July 2020
Word Count: 215

Eagle Nice Grows Sales and Profits despite Pandemic

Net income attributable to shareholders jumped 59% to HK$223,458,000 ($28.5 mm) in the year ended Mar. 31 from HK$140,418,000 on 12% higher sales of HK$3,017,120,000 ($385.3 mm) up from HK$2,700,780,000. Gross margin expanded 240 basis points to 17.8%, while SG&A grew 70 b.p. as a percent of sales on higher administrative expenses in Vietnam. The bottom line this year benefitted from HK$44.5 billion in government grants, a tenfold increase from last year. The apparel maker credited expanded capacity in Vietnam and its Hubei plant for the volume increase and gross margin improvement, and they now account for about a third ... Log in to view full article.


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