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Chow Tai Fook Jewellery Group Ltd Issues H1 2014 Profit Guidance In Line With Analysts' Estimates


Tuesday, 29 Oct 2013 08:45am EDT 

Chow Tai Fook Jewellery Group Ltd announced that it expects the profit attributable to Shareholders to increase significantly for the first half of 2014 as compared to that of the corresponding period in the last year. The Board considers that this is principally attributable to (i) the increase in revenue brought by the strong sales of gold products; and (ii) the reduced effect of the unrealised hedging loss on gold loans recorded for the first half of 2014 as compared to that of the corresponding period in the last year. The Company reported net income of HKD1.825 billion in the first half of 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report net income of HKD4.227 billion for the first half of 2014.