Region-wise, the US market led with 74 per cent of total sales, followed by Europe (10 per cent) and the rest of the world (16 per cent). Profit margins were under pressure from underutilised capacity and a shift towards lower-margin products.
Top Form International Limited has reported HK$236.3 million (~$30.4 million) in Q1 FY26 sales, down 25 per cent YoY amid weakened US demand and tariff uncertainties.
The US led sales with 74 per cent. Margins were pressured by lower factory use and product mix.
The group maintained solid liquidity, anticipating near-term challenges from global trade, inflation, and geopolitical tensions.
Production from overseas facilities in Asia ex-China contributed 87 per cent of total output, while China accounted for 13 per cent. The company continued to optimise factory utilisation and control operating costs through level-loading of manufacturing capacity, Top Form International Limited said in a press release.
As of September 30, 2025, the group held cash and bank balances of HK$47.3 million and undrawn banking facilities of HK$6.0 million, reflecting disciplined capital management and a sound liquidity position to support ongoing operations and future investments.
Top Form anticipates a subdued business climate in the near term as volatile US trade policies and legal challenges to new tariffs cloud visibility. Broader macroeconomic uncertainty—driven by interest rate fluctuations, inflation risks, and geopolitical tensions in Europe and the Middle East—continues to dampen consumer confidence.
Fibre2Fashion News Desk (SG)
