Zhitong Financial APP News, Linen International (09918) announced interim results for the six months ended June 30, 2023. The company's realized income decreased by 0.2% to HK $547 million compared with the same period last year, with a loss of HK $1.552 million, compared with a profit of HK $3.504 million for shareholders in the same period last year.
The announcement said that the group's earnings were lower than those in the second half of 2022, mainly due to the decline in consumer demand and increased business costs due to the global economic downturn and soaring interest rates in the first half of 2023.