Global Brands Group cuts losses, revenue improves 4.6 percent

Global Brands Group Holding Limited, announcing its results for the 12-months ended March 31, 2019 said that revenue of the group’s continuing operations decreased by 4.6 percent compared to last year, primarily due to eliminating unprofitable businesses. While net loss of the continuing operations increased to 250 million dollars, net loss attributable to shareholders improved by 55.7 percent to 400 million dollars. The company also said that following the completion of a strategic divestment in October last year, which involved select North American licensing businesses, the group has been transformed into a leaner and more focused operation.