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Bauhaus Falls After Saying Net Will Be ‘Considerably Lower’

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Nov. 21 (Bloomberg) -- Bauhaus International Holdings Ltd., a clothing retailer in Hong Kong, plunged by a record since its debut on the city’s stock exchange after issuing a profit warning because of higher costs.

Bauhaus slid 25 percent, the biggest drop since the stock started trading in May 2005, to HK$2.18 at close in Hong Kong. The benchmark Hang Seng Index retreated 1.4 percent.

The company expects to record “considerably lower” net income for the six months ended Sept. 30, compared with a year earlier, because of higher operating costs and a drop in profits contributed by its mainland China operations, Bauhaus said in a stock exchange filing on Nov. 18. For the six months ended Sept. 30, 2010, profit was HK$23 million ($3 million).

Bauhaus expects to report interim earnings on or before Nov. 30, according to the filing.

To contact the reporter on this story: Vinicy Chan in Hong Kong at vchan91@bloomberg.net

To contact the editor responsible for this story: Frank Longid at flongid@bloomberg.net

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