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Chow Tai Fook(01929)SSS in HK and Macau up 17% in Q4
16 Apr 2018
(Infocast News) Chow Tai Fook(01929) said that for the three months ended 31 March 2018 (the Fourth Quarter), the group's same store sales in Mainland China and in Hong Kong and Macau recorded a positive growth of 7% and 17%, respectively.

RSV and SSS performance of both Mainland China and Hong Kong and Macau markets
in the Fourth Quarter continued to improve year-on-year. Hong Kong and Macau market recorded a relatively stronger growth during the Quarter, benefitting from the improving consumer sentiment and reviving Mainland visitation.

In Mainland China, SSSG of gem-set jewellery declined while RSV growth stayed
positive and same store Average Selling Price (“ASP”) improved to HK$7,100
(4QFY2017: HK$6,500). In Hong Kong and Macau, both volume and ASP at same store
level increased during the Quarter. Same store volume recorded a double-digit growth and ASP improved to HK$13,000 (4QFY2017: HK$12,400) during the Quarter.

SSS performance of gold products in both markets was driven by the increase in volume and ASP, where the improvement in ASP was due to the increase in gold price and average weight per gold product sold. Same store ASP was HK$4,400 (4QFY2017: HK$3,900) in Mainland China while HK$7,900 (4QFY2017: HK$7,000) in Hong Kong and Macau in the Quarter. The average international gold price in the Quarter rose by 9% when compared to the same period last year.

(SY)
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