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26-08-2013, 05:26 PM
(This post was last modified: 26-08-2013, 05:26 PM by AlphaQuant.)
Latest results released with pretty much a deterioration of business.
http://infopub.sgx.com/Apps?A=COW_Corpor...hsfVhsUq3U
"In North Asia, the timepiece business in Hong Kong fell 26% while in China, it declined 47%. The slowdown in demand for luxury timepieces in China and reduced tourist spending by mainland Chinese visitors in Hong Kong were major factors behind the lower sales."
Bloke seems to be burning cash for the past 2 years and now stuck with a growing inventory pile, together with -ve FCF. It will be interesting to see how/if it manages to reverse its fortunes...
http://infopub.sgx.com/Apps?A=COW_Corpor...hsfVhsUq3U
"In North Asia, the timepiece business in Hong Kong fell 26% while in China, it declined 47%. The slowdown in demand for luxury timepieces in China and reduced tourist spending by mainland Chinese visitors in Hong Kong were major factors behind the lower sales."
Bloke seems to be burning cash for the past 2 years and now stuck with a growing inventory pile, together with -ve FCF. It will be interesting to see how/if it manages to reverse its fortunes...