Chow Tai Fook revenue decreases by 4.1 per cent

Chow Tai Fook Jewellery Group, the Hong Kong-based major, has announced its interim results for the first six months ended 30 Sep 2015, showing a decrease of 4.1 per cent. 

In fact, the jeweller's revenue decreased 4.1% to $3.62 billion for the first half of 2016 fiscal year. It was $3.78 billion for the first half of 2015 fiscal year. Gross profit declined by 15.8% to $1.01 billion.

The analysts attribute the decline in the Group’s revenue mainly to the weak luxury market sentiment in Hong Kong and Macau as a result of a declining tourist visitation from Mainland China.