Hong Kong Resources Holdings sales up 29% to HK$537mln

Sales in Hong Kong and Macau markets up 56% during the said period, while sales in China increased 25%.

Hong Kong Resources Holdings Company Limited (“HKRH”) on Thursday provided a quarterly update on the total sales (unaudited) of the Group’s gold and jewellery products in the fourth quarter (“Q4”) of 2010.

Total sales of the Group’s retail and franchising operations for gold and jewellery products reached HK$537,006,000 during Q4 of 2010, up by 29% over the same period last year (2009 Q4: HK$416,661,000). Sales in the Hong Kong and Macau markets rose strongly by 56% to HK$86,217,000 during the said period over the last corresponding period (2009 Q4: HK$55,230,000); while sales in Mainland China increased 25% to HK$450,789,000 (2009 Q4: HK$361,431,000), according to an HKRH report.

Dr Kennedy Wong, Chairman of HKRH, said, “It is encouraging to see the sustainable growth of our business, which not only reflects the increasing popularity of our ‘3D-GOLD’ brand and gold and jewellery products in the markets, but also strongly indicates that our business model and strategies are on the right track. In particular, sales of our franchisees to their end customers grew by 94% and that of our own points-of-sales by 34% during the Christmas period, supporting our positive outlook about our prospects for the first quarter of 2011 which covers the Chinese New Year. With the new flagship store opening in Tsim Sha Tsui, Hong Kong, and more franchise stores opening in China in the coming months, we are confident that HKRH will accelerate its development pace and continue to deliver satisfactory results.”