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Article Date: June 2019
Word Count: 241

Eagle Nice Sales Jump, but Lower Margins Pressure Profits


A big negative swing in foreign exchange differences sent comprehensive net income at the Chinese apparel maker down 76% to HKD 68,639,000 ($10.2 mm) for the fiscal year ended Mar. 31, from HKD 280,881,000 despite a 28% jump in sales to HKD 2,700,780,000 ($400.4 mm) from HKD 2,109,422,000. An HKD 47.1 million gain on the sale of a subsidiary last year also weighed on the bottom line comparison. The strong revenue growth was made possible by the acquisition of factories in Vietnam and Hubei during the year, which together supported HKD 360.6 million in sales. But antiquated manufacturing equipment at ... Log in to view full article.

 


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