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Moiselle set for $8m expansion |
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2004-7-21
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Fashion retailer Moiselle International Holdings informed it will spend HK$8 million to expand its retail network on the mainland.
Chan Yum-kit, Moiselle Chairman and Chief Executive Officer said that nine more stores would be added to its 41 mainland outlets this year.
With the purchasing power of mainlanders becoming stronger in recent years, Chan said the company''''s sales in the past year grew by some 50 percent.
Moiselle reported its net profit rose 43.28 percent to HK$47.25 million, or 17 cents a share, for the year to March from HK$32.98 million, or 12 cents a share, a year ago.
Turnover rose 4.12 percent to HK$227.19 million from HK$218.2 million. It proposed a final dividend of four cents per share, doubling two cents payout, a year earlier.
Moiselle conveyed it would also speed up developing its North America market, as its profit margin was likely to expand after global textile quotas are scrapped next year.
Chan said the company planned to invest HK$6 million to open two outlets in New York and Los Angeles in autumn next year.
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