3 stories mentioning HKG:1825Updated 19h ago
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Sterling Group (HKG:1825) expects a net loss of HK$16 million to HK$20 million for the fiscal year ended March 31, compared with a loss of HK$6.1 million a year earlier, according to a Monday Hong Kong bourse filing.The apparel manufacturer attributed the forecast mainly to lower gross profit due to weaker revenue and margins, as well as higher expected credit losses on trade and other receivables.
Sterling Group (HKG:1825) expects a net loss of between HK$59.2 million and HK$65.4 million for the year ended March 31, wider than HK$6.1 million a year prior, according to a Monday Hong Kong bourse filing.The apparel manufacturer attributed the forecast to a lower gross profit and a rise in net expected credit losses related to trade, loan, and other receivables.
Sterling Group (HKG:1825) received HK$5.2 million in early repayment from Santai Global Asset Management against the outstanding principal and interest of certain loans.The company's unit, Sterling Apparel, provided Santai with advances of HK$33.5 million at an interest rate of 7% per annum in various tranches in 2022 and 2023.Of the repayment amount, HK$4.4 million will be used to repay outstanding amounts under the loans, while the remaining HK$800,000 will cover Sterling Apparel's trade receivables due from Santai.Amounts under the financial assistance have now been fully repaid by Santai.Trading in the shares of the company, which was suspended July 2, remains suspended.
