By  on February 3, 2010

HONG KONG — Esprit Holdings Ltd. saw lower profits and sales in the six months ended Dec. 31 on the back of a lackluster wholesale business.

The company said Wednesday net profits slid 5.2 percent to 2.71 billion Hong Kong dollars, or $349.6 million at average exchange rates, while turnover decreased 3.1 percent to 18.5 billion Hong Kong dollars, or $2.39 billion. The company said its retail turnover grew 9.5 percent, whereas the wholesale environment remained challenging as buyers continued to purchase cautiously.

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