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Kingold Jewelry Sales Jump as Branded Gold Shines
May 18, 2016 11:39 AM
By Rapaport News
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RAPAPORT... China’s Kingold Jewelry reported revenue and profit surged
in the first quarter because of a stronger showing by the company’s branded
products.
Total revenue in the three months to March 31 soared 37
percent to $282.2 million and profit more than doubled to $15.2 million from
$6.6 million a year ago. Gross margin climbed to 10.1 percent from 5.2 percent
because of growth in the unit price of branded sales and a fall in the unit
cost, according to the Wuhan-based maker of gold jewelry.
Sales by volume shot up 20 percent to 14.8 metric tons of
24-karat gold products, with branded gold sales surging ahead of customized products
as the largest segment.
The company reiterated its 2016 guidance for processing 50
to 60 metric tons of 24-karat gold.
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Tags:
branded gold jewelry, branded products, China, gold, Gold jewelry, Kingold Jewelry, Rapaport News, Wuhan
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