Net income attributable to shareholders slipped 20% to HK$ 173,555,000 ($22.3 mm) from HK$ 217,201,000 for the year ended Mar. 31, despite 4% higher revenue of HK$ 5,020,029,000 ($643.6 mm) up from HK$ 4,807,899,000. Gross margin tumbled 220 basis points to just 13.9%, impacted by tariffs and depreciation of the dollar against the yuan. Selling and distribution expenses were reduced by more than a third when a major customer took over direct payment of export logistics expenses, which helped pull down SG&A by 3% and accounted for 7.7% of the top ... Log in to view full article.