Net income at the sports apparel maker declined 10% to HK$263,510,000 ($33.7 mm) in the fiscal year ended Mar. 31 from HK$292,639,000 prior, on revenues that inched up 1% to HK$4,074,668,000 ($521.1 mm) from HK$4,051,107,000. The RMB’s depreciation against the dollar has helped lower costs, but also took a toll on the top line. U.S. revenues dropped 17% to HK$728.8 million ($93.2 mm), while sales in Mainland China performed much better, improving 19% to HK$2,332.4 million. Other geographies were all lower, however, as Europe fell off 22% ... Log in to view full article.