The fallout from the Asian economic crisis and weaker trading conditions in Europe pushed upmarket retailer Dickson Concepts (International) into the red for the year to March.
Attributable loss stood at $327.62 million against an attributable profit of $16.25 million for the previous year. Turnover slid 4.42 per cent to $5.05 billion.
Former subsidiary, London-listed Harvey Nichols, saw operating profit drop 4.1 per cent to GBP13.72 million (about HK$169.2 million) and Paris-listed ST Dupont's operating loss widened 358 per cent to 54.6 million French francs (about HK$66.66 million).
Dickson group chairman Dickson Poon warned that conditions would remain difficult for these two companies.
The British retailer and restaurant group Harvey Nichols and luxury stationery-maker ST Dupont are now personally controlled by Mr Poon after a $1.52 billion corporate restructuring was completed earlier this month.
The restructuring involved Mr Poon acquiring Dickson's majority stakes in the two companies, commercial property in Knightsbridge, London and a leather-products group in the United States.