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Hong Kong jeweller Chow Tai Fook says H1 profit up 46 pct
November 21, 2017 / 9:06 AM / 24 days ago

Hong Kong jeweller Chow Tai Fook says H1 profit up 46 pct

HONG KONG, Nov 21 (Reuters) - Chow Tai Fook Jewellery Group Ltd, China’s largest jeweller by market value, reported on Tuesday a 46 percent increase in first-half profit as consumer sentiment improved.

Net profit rose to HK$1.78 billion ($227.89 million) for the six months ended September, the best first-half result since 2015, and up from a profit of HK$1.22 billion a year ago. That compared with a forecast of HK$1.73 billion by SmartEstimate.

Revenue for April-September rose 15 percent to HK$24.75 billion in the same period last year.

Same-store sales of jewellery in mainland China rose 10.3 percent, while that in Hong Kong and Macau rose 9.5 percent. ($1 = 7.8108 Hong Kong dollars) (Reporting by Donny Kwok and Clare Jim; Editing by Biju Dwarakanath)

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