Hong Kong's Moiselle's turnover at HK$127.9 mn in FY23

However, the revenue from the Hong Kong segment increased by approximately 21 per cent to HK$70.8 million, compared with HK$58.5 million in FY22. This increase in revenue has been attributed to the relaxation of government measures, leading to improved customer traffic across all points of sale. The Hong Kong segment contributed to 55 per cent of the group's total revenue, an increase from 42 per cent in FY22.

Meanwhile, the revenue of the segment outside Hong Kong decreased by approximately 29 per cent to HK$57.1 million. This was primarily due to a decreased performance in Macau and Mainland China, where the newly established retail network has not yet reached the breakeven level. As a result, this segment's contribution to total revenue fell to 45 per cent, the company said in a media release.

The group's gross profit margin improved to 72.9 per cent compared with 69.7 per cent in the previous year. This increase reflects stable business operations despite discount sales and promotional activities. However, operating expenses decreased by approximately 21 per cent to HK$132.8 million, compared with HK$167.2 million in 2022. Despite stringent cost management measures, the group suffered an operating loss of HK$24.9 million.

Notably, the group's operations in Hong Kong experienced a 21 per cent increase in revenue to HK$70.8 million despite a downturn in the city's apparel retail market.

However, revenue from the group's operations in Mainland China dropped by 25 per cent to HK$32.1 million, and turnover at the group's operations in Macau dropped by 30 per cent to HK$15.5 million. Additionally, the continuing COVID-19 pandemic and the slowdown of Taiwan's economic growth caused a 27 per cent decrease in revenue to HK$9.4 million from the group's operations there, accounting for about 7 per cent of the group's turnover for the fiscal.

Fibre2Fashion News Desk (DP)