Hong Kong jeweller Tse Sui Luen's profit tumbles 265.6% in FY2020

Its turnover likewise crashed 28.3% YoY over the same period to $2.91b.

Hong Kong-based jeweller Tse Sui Luen Jewellery saw its profit plunge 265.6% YoY, reversing to a loss of $11.57m (HK$89.67m) in FY2020 from a profit of $6.99m (HK$54.16m) in FY2019 as COVID-19 continues to severely hit Hong Kong’s retail scene, an HKEX filing revealed.

Its turnover likewise crashed 28.3% YoY over the same period to $375.46m (HK$2.91b). The basic loss per share is $0.046 (HK$0.36) in FY2020 compared to $0.028 (HK$0.22) in FY2019.

No interim dividend was declared during the period, and does not recommend the payment of final dividend for the year.