Hong Kong-based jeweler Chow Tai Fook has announced its interim results for the six months ended September 30. According to Gem Konnect, the jeweler’s revenue during the period totaled HK$24.75 billion ($3.17 billion) – a 15% rise year-on-year.
Core operating profit rose 40.3% to HK$2.4 billion ($307 million), an increase which the company attributed to “the early signs of recovery in the jewelry industry which began in the second half of last year [and] have extended into the first half of this year”. Same store sales in mainland China rose 10.3%, while sales in Hong Kong and Macau rose 9.5%. Online jewelry sales in mainland China rose 120%, contributing 5.4% of retail sales value and 13.4% of retail sales volume in the jewelry business in the region.
The company’s points of sales totaled 2,488 as of September 30.
