Chow Sang Sang Forecasts Profit Increase

Chow Sang Sang’s profit for the first half is likely to jump, as stronger sales in key retail markets are improving.

Profit will come to between HKD 2.1 billion ($267.7 million) and HKD 2.2 billion ($280.5 million) for the six months that ended June 30, the Hong Kong jeweler predicted in a preliminary statement Monday. That compares with a profit of HKD 910 million ($116 million) for the same period last year.

The expected profit increase is due to improved sales performance across key retail markets, and the revaluation of bullion loans, which resulted in an unrealized gain, versus an unrealized loss in the same period last year.

Chow Sang Sang will publish its full results for the first half on August 26.

Image: A Chow Sang Sang store in Hong Kong. (Shutterstock)