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Categories
| Voir sees improvement in 2H |
| Business & Market 2009 | |||
| Written by Melody Song | |||
| Monday, 29 June 2009 20:56 | |||
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Speaking to reporters after the company's AGM here today, its managing director Ham Hon Kit said Voir hoped to see an improvement in economic conditions and higher consumer spending for the remainder of the year. "However, growth may not be as high as before," he said, adding that the company planned to expand on its diversification into the food and beverage sector by opening two more "Garden Lifestyle Store and Cafe" outlets, which are annexed to Voir stores, by year-end. "We are planning on opening the cafes in main shopping malls in the Klang Valley," he said. "We will spend between RM1.6 million and RM2 million on both cafes, depending on its size." "While our core business remains in fashion retailing, we strongly believe that we are offering lifestyle choices to our customers. F&B is not really a deviation from this; they are complementary," he said. "We have another Voir Gallery planned for the last quarter of the year (to be located in Kota Kinabalu)," he said, adding that the concept store would encompass 14,000 square feet. Ham said Voir would also continue to explore new product lines, including expanding the sub-labels under existing brands. "Currently, Voir has 17 brands and sub-labels including the Garden Cafe," he said. The company plans to launch the Voir apparel brand in Mauritius next month. In terms of sales this year, Ham said it saw a marginal reduction in terms of top line in the first quarter. "It is mainly due to the challenging climate we are in at the moment," he said. "We are working to ensure that our full year numbers in terms of revenue will be maintained or slightly higher in terms of profitability." Voir's revenue fell 4.76% to RM35 million in its first quarter ended March 31, 2009 from RM36.75 million a year earlier due to the economic slowdown, while its net profit fell 72% to RM719,000 from RM2.67 million due to lower sales and higher cost.
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