Chow Tai Fook has achieved a strong performance in the second quarter on the back of an improved wholesale business.
The Hong Kong jeweller says revenue in the three months to September grew 35 per cent, also partly driven by an increase in gold sales.
Its gross profit margin improved in the second quarter as the contribution to total revenue from gold sales normalised from 59 per cent to 69 per cent.
Same store sales growth of gem-set jewellery and gold products were four per cent and 33 per cent, respectively, driven mainly by the volume growth of mass luxury jewellery, which will be the major growth driver in the next quarters, the company says.
Chow Tai Fook opened 98 points of sale during the period, bringing the total count to 1954 as at September 30.
