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Chow Tai Fook revenue growth driven by return of tourists

Chow Tai Fook Jewellery Group saw higher revenue on the back of the progressive return of mainland tourists during the first half of FY24.

The jewellery group’s revenue climbed 6.4 per cent year over year to HK$49.5 billion (US$6.3 billion) as revenue in Hong Kong, Macau, and other markets surged 57.7 per cent to HK$8.8 billion.However, revenue in Mainland China dropped 0.6 per cent to HK$40.7 billion.

“Hong Kong and Macau experienced a rapid acceleration as popular destinations to Chinese tourists,” said Henry Cheng Kar-shun, chairman at Chow Tai Fook.“Business recovery in Asean is also gaining strong traction, supported by both domestic consumption and tourist expenditure. By staying responsive and agile, we will ensure that we remain at the forefront of markets with strong retail demand.”

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