Chow Sang Sang Holdings, a jewelry company based in Hong Kong, has reported a 54% increase in net profits for the first half of 2018 (ended June 30) to $77.2 million. According to Gem Konnect, revenue rose 19% to $1.22 billion. Income from jewelry sales alone was up 23% to $1.1 billion.
Despite a good first half, the company warned that “the escalating Sino-US trade war and rising interest rates could adversely impact second half performance”, but added that consumer sentiment “seemed to be holding up”. In Mainland China, online sales accounted for 14% of the company’s China sales.
As of June, Chow Sang Sang had 442 shops located in 121 cities. New shops numbered 34 in the first half, 12 of them in shopping malls. During the same period, the company closed 14 shops.
