Bossini loss likely to be four times that of last year

Bossini has issued a profit warning saying unseasonal weather and weak consumer sentiment is impacting sales.

In a stock exchange filing in Hong Kong, where the company is listed, Bossini chairwoman Bess Tsin said unaudited consolidated management accounts of the group for the 10 months to April 30 indicate a loss attributable to shareholders of about HK$92 million (US$11.7 million) for the period.

“Based on the management accounts and the information currently available, the group expects that the loss attributable to owners for the year ending June 30 would be higher than that shown in the management accounts by about 35 per cent.”

That would equate to about $124 million, more than four times last year’s loss of $29 million.

She said the final figure would depend on the trading results for May and June.