Hong Kong jeweller Chow Tai Fook has reported big profit gains for its first half.

It says net profit for the six months to September surged 90.4 per cent to HK$3.6 billion (US$464.4 million) as revenue climbed 48.5 per cent to HK$37.77 billion (US$4.9 billion).

Amid the retail market resilience and improved consumer sentiment in Mainland China, Hong Kong and Macau, Chow Tai Fook recorded a notable increase in same store sales growth of 33.2 per cent, attributable mainly to the strong same store sales volume growth of 44.6 per cent.

The company expects mass luxury jewellery segment to continue to drive the growth momentum as consumer sentiment picks up gradually and steadily, says chairman Henry Cheng.

Looking ahead, Chow Tai Fook will continue to expand into China’s third-tier and lower tier cities through leveraging franchisees’ deep local knowledge and solid customer base, while self-operated stores continue to be the company’s key operation model.

It will also continue to explore POS opening opportunities selectively in prime shopping areas in Hong Kong.

MD Kent Wong says that they anticipate a steady business growth for the rest of the year and maintain a positive view in the medium to long run.

“Amid the resumed consumers’ sentiment and the rising demand for wedding and fashion jewellery products, we see that our product mix is normalising and expect the sales contribution of gem-set jewellery to increase,” he said.