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 $89.67m in FY2020 from a profit of $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 $2.91b. The basic loss per share is $0.36 in FY2020 compared to $0.22 in FY2019.

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