LUK FOOK HOLD (SEHK: 590) shares experienced a significant intraday rise of more than 5%. At the time of writing, the stock was up 5.11%, trading at HK$24.26 with a turnover of approximately HK$17.19 million.

The upward movement follows the company's recent announcement of its first-quarter performance. The group reported a 32% year-on-year increase in overall retail sales value, which includes self-operated stores, brand stores, and e-commerce. Retail revenue, covering self-operated stores and e-commerce, grew by 43% compared to the same period last year.

A key driver was the performance of gold and platinum products, whose share of retail sales value rose by 6 percentage points year-on-year to 82%, primarily due to a substantial surge in sales of investment gold products.

In terms of geographical expansion, the group re-entered the Singapore market during the quarter by opening a self-operated store and also added a new brand store in Vietnam. This brings the total number of new overseas stores opened in the first quarter to two.

Analysts noted that the group's first-quarter retail sales value and same-store sales grew by 32% and 39% year-on-year respectively, accelerating from the 19% and 33% growth seen in the previous quarter.

The Greater China and other markets were standout performers, benefiting from robust local demand in Hong Kong. Favorable price differentials between Hong Kong and Macau, coupled with the appreciation of the Renminbi, also positively influenced mainland Chinese tourist traffic and sales. This region saw retail sales value and same-store sales both increase by 41% year-on-year. Within this, same-store sales growth in Hong Kong/Macau was 44%/49%, while overseas markets grew by 14%.