CTF opened a net of 237 PoS in 1H FY2019
Revenue up by 20.0% yet, Core Operating profit surged by 24.7% YoY According to Chow Tai Fook Jewellery Group Limited [CTF], interim results for the six months ended 30 September 2018 (1HFY2019), the Group recorded a revenue of HK$29,703 million for 1H FY2019 that was in 1H FY2018 of HK$24,754 million, shows increase of 20.0% YoY. Key reason is the stabilising consumer demand and reviving Mainland visitation which fuelled the jewellery market. Gross profit amounted to HK$8,529 million over the 1H FY2018 of HK$7,166 million. Adjusted gross profit margin was down by 60 bps to 28.1%, mainly due to a higher sales contribution from gold products and wholesales business, Core operating profit surged by 24.7% YoY. Core operating profit margin increased slightly to 10.1%. With Business Review, CTF says, the jewellery retail landscape exhibited positive momentum in Greater China during the period, thanks to steady economic recovery and improving consumer sentimen...