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broken image

AIDI

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    • All Categories
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    • ESG
    • GDC
    • Industrial
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  • GDC 
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    • Designer Review
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AIDI

TSL Shrinks Massive 💸 Losses Thanks to Smarter Operations

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.

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