11th November 2020
UK government still hasn’t produced a lorry drivers’ guide
China’s largest apparel company’s profit goes up: its largest textile spinner and weaver sees its profits slump.
Neither company, if we’re honest, presents its accounts in a way that makes them easy to analyse. There are all sorts of interpretations.
The easiest explanations don’t altogether wash: Weiqiao claims it sacrificed profit in its domestic market to preserve volume. But its domestic sales fell 20% – which sounds like pretty rotten salesmanship in a market growing 15-20% a year. We suspect there’s a slightly different explanation: Weiqiao’s focus is on Chinese companies that are themselves focused on exports. It lost volume in that sector, because it chose the wrong sector to aim at.
Anyone else got a better idea?