Tse Sui Luen Jewellery slumps into red despite turnover rise

PUBLISHED : Monday, 23 November, 1998, 12:00am
UPDATED : Monday, 23 November, 1998, 12:00am

Tse Sui Luen Jewellery said it lost $63.16 million in the six months to August 31, despite a 15 per cent rise in turnover to $1.44 billion. Operating profit after interest expenses was $106,000. The company recorded an exceptional loss of $56.08 million due to provisions for non-marketable goods and the costs of closing down some retail outlets. The loss per share was 18 cents. No dividend was recommended.