Sales growth has helped slam the brakes on losses for jewellery and watch retailer King Fook Holdings.

Total first-half revenue for the group rose 11.3 per cent to reach about HK$225.3 million (US$28.8 million), while the unaudited consolidated loss attributable to the owners of the company was chopped back by 73.1 per cent to about HK$14.6 million. This is attributed to improvement in the group’s retail business coupled with lower rental expenses.

With more than 90 per cent of its revenue derived from activities in Hong Kong, the group had six retail shops at the end of September. Despite this being one fewer than at the same time last year, both revenue and gross profit margin achieved double-digit growth.

Retail revenue was mainly boosted by an 84.5 per cent expansion in sales of jewellery products.

Same-shop sales growth was 33.5 per cent, mainly thanks to the improved business environment lately for the luxury goods retail market in Hong Kong.