Hong Kong-based jeweler Tse Sui Luen (TSL) is reporting a smaller-than-expected financial loss for the fiscal year ending March 31.
💰 TSL now anticipates a deficit of no more than HKD 200 million ($25.5 million), a 46% improvement over last year’s HKD 374.2 million ($47.7 million) loss.
📉 The company had previously questioned its viability due to weak diamond jewelry demand and soaring gold prices.
📊 What helped? Lower operational costs and increased profit from mainland China franchises, plus a smaller write-down of inventory compared to last year's.
📅 The full fiscal-year results will be released at the end of June.