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Hong Kong retailer Tse Sui Luen Jewellery (International) Ltd reported hefty losses during the financial year ending March 31, noting that 2020 was one of the most difficult years the business has ever faced.
Consolidated turnover for the year was down 28.3 per cent from the same period last year, with Hong Kong and Macau recording a 44.6 per cent drop in net sales. China meanwhile saw a year-on-year decline of 20.8 per cent in turnover of self-operated stores.
Losses for the year amounted to HK$89.8 million (around US$11.58 million) compared to a profit of HK$54.2 million (around US$7 million) in 2019.
“The...
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