The Hong Kong-based jewelery company Luk Fook Holdings reported an increase in revenue of 70% year-on-year to $ 1.3 billion for the six months ended September 30, Rapaport reported. Net profit of the group for the reporting period jumped by 72% to $ 124.5 million.
Sharp revenue growth was due to good sales results of gold, very popular among buyers Luk Fook. According to the company, gold and platinum products accounted for 72% of its total sales. Gold sales particularly intensified in April and June, when world prices fell. The share of jewelry with precious stones accounted for 28% of sales revenue Luk Fook.
Retail sales of Luk Fook in Hong Kong, Macao and abroad showed an increase of 82% year-on-year to $ 1.11 billion. The wholesale division of the company registered revenue growth of 16% to $ 141.9 million. Sales of licensed partners increased by 3% to the company $ 41.6 million.
The group reported that total sales in comparable stores for the reported half-year increased by 62%. Sales of gold and platinum products in comparable stores jumped 87%, while jewelery sales with precious stones rose 16%.