Wednesday, 16th June 2004 (4095 views)

LJ International (LJI) has released sales and earnings outlooks today and revealed plans to expand.

Figures from the fine jewellery firm showed that sales for 2004 are now projected at between $68-$70 million and that revenue in 2005 is set to stand at around $87-$91 million.

LJI Chairman and CEO Yu Chuan Yih commented: 'As long-term LJI investors know, it is our practice to be conservative in our guidance, projecting results only when we are highly confident we can meet them.

"So the growth forecast we offer today suggests just how extraordinary the potential is in the consumer jewellery market."

Future plans unveiled for the company include fast expansion of the company's China Division, which is set to have 40 stores open by the end of 2005 and better marketing of products following the appointment of a new head for the division Elliot Yuen.

In addition plans for more LJI retail stores were revealed, with 30 new outlets planned by the end of 2005.

 

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