Friday, 14th May 2004 (4252 views)

LJ International has revealed financial results for the first quarter of 2004, with international revenue increasing by 30 per cent.

Sales growth followed the same 26 per cent trend as last year, which the fine jewellery group claimed was due to an increase of new customers, products and orders.

Yu Chuan Yih, LJI's chairman and CEO commented: "Our first-quarter financial results, which were at the higher end of our earlier guidance, clearly indicate that LJI is successfully executing its expansion strategy.

Our plans to rapidly expand into the fast growing Chinese consumer market are expected to generate a new and growing revenue channel for LJI in the current and coming years. Earnings should also be favourably impacted by our progress in growing sales while decreasing our overall expenses as a percentage of overall sales," he added.

The group recently announced a key move into the Chinese retail jewellery sector and revealed details of a deal with the China Commerce Group and Carrefour, as well as with an Australian TV home shopping network.

 

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