Esprit H1 Net Profit Drops 74%

Esprit Holdings Ltd ESPGY posted a 74% drop in its first-half net profit. Esprit's net profit for the six months ended December 31 declined to HK$555 million (US$71.6 million), versus HK$2.14 billion, in the year-ago period. Its revenue dropped 5.6% to HK$16.70 billion from HK$17.69 billion. Esprit also proposed a first-half dividend of HK$0.26, versus HK$1.00, in the year-ago period. Esprit shares closed at $3.72 yesterday.