Tse Sui Luen (00417) releases interim results - Shareholders' net loss of HK$43.79 million, representing a 24.75% decrease compared to the same period last year.

TSE SUI LUEN (00417) released the interim results for the six-month period ending September 30, 2024. During the period, the group achieved a turnover of HK$864 million, a decrease of 35.81% compared to the previous year; shareholders' attributable loss was HK$43.79 million, narrowed by 24.75% year-on-year; basic loss per share was 17.6 Hong Kong cents. Despite disruptions in sales of 24K gold products due to the rise in gold prices, the group continued to increase its inventory of 24K gold during the period to maintain a stable inventory mix to support market demand. As a result, gross margin decreased slightly from 34.9% in 2023 to 34.4% in the current period, mainly due to an increase in the sales mix of 24K gold products, which have a relatively lower gross margin compared to gemstone jewelry.