HK luxury watch retailer Hengdeli falls to near 15-yr low on poor outlook

Hengdeli Holdings

17/02/2020 04:11

** Luxury watch retailer Hengdeli Holdings Ltd's  3389.HK 
shares fall as much as 3.6% to HK$0.27, the lowest since
September 2005 
    ** Co expects a loss of not less than 330 mln yuan ($47.3
mln) for 2019 due to a drop in revenue and an impairment on
goodwill of the Hong Kong watch retailing business  urn:newsml:reuters.com:*:nFWN2AE0DU
    ** Co reported a profit of 68.8 mln yuan last year 
    ** Co says its watch retailing business has been hit by a
sharp fall in visitor arrivals and worsened consumer sentiment
amid social unrest in Hong Kong in the second half of 2019
    ** Stock down 15.2% so far this year, as of last close 
    ** Hengdeli has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 8.6 percentage points in the
past one month.
    ** The Hong Kong benchmark index  .HSI  gains 0.5% on Monday
    ($1 = 6.9747 yuan)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)