Chow Tai Fook expects profit to jump 55 pc at most this year amid higher gold prices

Chow Tai Fook Jewellery (1929) said on Wednesday that its net profit for the year ended March is expected to jump by about 45 to 55 percent year-on-year.

The jeweller attributed the increase to the improvement in gross profit margin driven by higher gold prices, a more favourable sales mix towards retail business and fixedprice jewellery, as well as operating leverage from disciplined cost management.

The year prior, its net profit reached HK$5.91 billion.

Its shares closed 3 percent higher on Wednesday.

 

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