20-10-2017
Chow Tai Fook Jewellery Group Limited (CTF) reported a 15-percent rise in the value of its mainland sales in the second fiscal quarter of 2017(2QFY2017) ended 30 September 2017, while the value growth for Hong Kong and Macau was 12 percent at the same period.
Same-store sales increased nine percent in the Mainland and 13 percent in Hong Kong and Macau, surpassing the mainland figure for the first time in 12 months.
SSS performance of gem-set jewellery in mainland China declined slightly by one percent, whereas same-store average selling price improved to HK$6,500 from the previous quarter’s HK$6,100. In Hong Kong and Macau, same-store revenue of gem-set jewellery recorded a positive growth after 13 consecutive quarters of decline since the first quarter of FY2015, according to the group.
CTF’s revenues have improved this year following sliding sales in the previous two years. Sales in 1QFY2017 ended 30 June rose 17 percent in mainland China and seven percent in Hong Kong and Macau, which indicates the company’s recovery.
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