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Chow Tai Fook Expects 40-50% 1H Profit Drop as Sales Decline
Nov 10, 2015 9:21 AM
By Rapaport News
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RAPAPORT... Hong Kong-based Chow Tai Fook, the world’s largest listed jeweler, warned its profit for the six months ended September 30 could be half of the comparable period last year due to weak consumer sentiment in Hong Kong and Macau, according to a statement to the Hong Kong stock exchange.
The jeweler said it also expects to report lower gross profit margins due in part to a change in its product mix with an increased sale of gold products. The company expects to report results for the period on November 24.
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Tags:
China, Chow Tai Fook, earnings, Rapaport News
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