Asian Star achieves 35% increase in jewellery sales in Q2

The second fiscal quarter ending September 30, 2009, saw sales falling by 13 percent to $70.6 million, for Asian Star. The company noted a 14 percent drop in diamond sales to $69 million, but a 35 percent increase in jewellery sales to $5.1 million, reports say. Intersegment sales amounted to $3.5 million; and group expenses dropped 13 percent to $67.4 million. Net profits also dipped by 7 percent to $2.2 million.

In the first six months of the fiscal year, sales dropped by 12 percent to $137.3 million; diamond sales dipped by 12 percent to $133.7 million and jewellery sales slipped by 5 percent to $8.1 million. Intersegment sales valued $4.4 million. The group expenses dropped 12 percent to $131.1 million, and net profits decreased by 24 percent to $3.7 million, in the said period.