bagir news and archive

Bagir sees strong start to 2019, extends deadline of Shandong Ruyi deal

Confirming 16.5 million dollars investment from Shandong Ruyi to acquire 53.7 percent stake, tailoring specialist Bagir has said that the company has agreed to a further extension of completion date to March 31, 2020. Commenting on the current trading, Bagir said, while trading conditions have remained challenging, the company has had a strong...

Business

Bagir H1 losses widen on higher production costs

For the six months to June 30, 2018, Bagir reported revenues of 24.8 million dollars compared to 28.1 million dollars same period last year. The company said, higher production costs in the first half affected gross margin and profitability. The company posted adjusted EBITDA loss of 1.7 million dollars and gross margin of 6.7 percent compared...

Business

Shandong Ruyi picks majority stake in Bagir

Bagir has announced that Shandong Ruyi Technology Group will be investing 16.5 million dollars in the company to acquire 54 percent of Bagir’s enlarged issued share capital. The company added that Chinese textile major will be a majority shareholder in the company and one or more director(s) will be nominated by Shandong Ruyi Group to join the...