Chow Tai Fook's earnings for the fiscal year ended March 31 jumped 34.8% year-on-year to $ 10 billion (HK $ 77.4 billion), Rapaport reports. The cost price of the goods sold for the reporting year jumped by 36.7% to $ 7.3 billion (56.3 billion Hong Kong dollars).
Sales in comparable stores showed an increase of 18.6%, while the best rates were recorded in Hong Kong, Macao and Taiwan (sales growth in comparable stores by 20.1%). Online sales of Chow Tai Fook rose by 90.7%.
The company's profit for the fiscal year increased by 31.2% to $ 970 million (7.5 billion Hong Kong dollars).
The company reported retail sales of $ 8.7 billion (HK $ 67.2 billion), while wholly-owned revenue reached $ 1.3 billion (HK $ 10.2 billion) for the previous fiscal year.
The stock of Chow Tai Fook increased by 55.8% year-on-year to $ 5.5 billion (HK $ 42.5 billion) as of the end of the year. The company cut 198,000 carats of diamonds compared to 189,000 carats of diamonds, cut in the previous year. Chow Tai Fook owns four diamond cutting and polishing enterprises, including a new plant in Botswana.
It is reported that in the reporting year Chow Tai Fook opened 241 points of sale, increasing the total number of outlets to 2,077.