By  on March 14, 2014

HONG KONG — Trinity Limited said Friday its full-year net profit declined 42.9 percent as government austerity measures in mainland China curbed demand for its high-end menswear labels, which include Kent & Curwen, Cerruti 1881 and Gieves & Hawkes.

Hong Kong-listed Trinity, part of Fung Retailing Limited, warned it is "cautious" on the near-term outlook in China. While the economic slowdown appears to have bottomed "there is no catalyst yet for a rebound," the company said. Still, Trinity said it is still optimistic about its long-term prospects in the country and it believes China will "fulfill its promise as the biggest luxury market in the world."

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