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CORRECTED-HK jeweller Chow Tai Fook yearly profit jumps 108% to highest since 2014

(Corrects paragraph 2 to say net profit surged from HK$2.9 billion in fiscal 2020, not 2019)

HONG KONG, June 8 (Reuters) - Chow Tai Fook Jewellery Group Ltd reported a 107.7% jump in annual profit on Tuesday, thanks to a oneoff COVID-19 related rent concession, an unrealised gain on gold loans and a foreign exchange gain.

China’s largest jeweller by market value said net profit surged to HK$6.03 billion ($776.65 million) from HK$2.9 billion in fiscal 2020. That compared to a forecast of HK$5.23 billion by 14 analysts, Refinitiv SmartEstimate data showed.

It was the highest annual profit since the HK$7.27 billion in fiscal 2014.

Revenue for the year to March 31 rose 23.6% to HK$70.16 billion from HK$56.75 billion in the year earlier period. Same-store sales in Hong Kong and Macau plunged 41.3% but rose almost 32% in mainland China. ($1 = 7.7590 Hong Kong dollars) (Reporting by Donny Kwok and Twinnie Siu; Editing by Kirsten Donovan)

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