Pegasus Profit Sinks on Property Investments
The Hong Kong-based footwear maker's net income attributable to shareholders swung to a loss of $1,060,000 for the year against a profit of $451,000, on 3% lower revenues of $5,867,000 down from $6,039,000. The decline was primarily attributed to a nearly fourfold decrease in the fair value of leased-out factories in response to the poor market climate in Mainland China. Gross margin grew 970 basis points to 62.1%, while operating expense was ... Log in to view full article.
