A 30 to 40 per cent year-on-year drop in profit is expected in the past 12 months’ trading by jewellery company Chow Sang Sang Holdings International.
It cites two reasons for the decrease: a one-off gain in 2015 from disposing of its long-term holding of shares in Hong Kong Exchanges and Clearing of HK$246 million (US$31.7 million), and a fall in turnover as a result of weakened consumer demand in Mainland China and Hong Kong.
Chow Sang Sang says this information is based on a preliminary review of its accounts, and that its audited annual results will be published in March.