Jewellery retailer Chow Sang Sang Holdings International expects a drop of about 50 to 60 per cent in the amount of profit attributable to shareholders for the six months to June 30.
In announcing its interim results for the period, the group cited three factors impacting on its performance… a one-off gain on the disposal of part of its long-term holding of shares in Hong Kong Exchanges and Clearing of HK$246 million (US$31.7 million), a decline in turnover because of weakened consumer demand in China and Hong Kong, and unrealised losses from gold-hedging activities compared with gains in the corresponding period last year.