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Atlas Pearls and Perfumes Limited (ASX:ATP) says its anticipated reduction in pearl sizes and prices for the 2015 financial year will impact cash revenue by around $2.5 million.
The company has undergone an audit of auctions it held in October and December last year and says the predicted 15 per cent reduction in pearl sizes will have a symmetrical 15 per cent reduction in price per gram.
Atlas says demand for its 9-13mm White South Sea pearls is increasing due to a growing North American market and consistent demand from China. Atlas says it is positioning itself to capitalise on increased demand.
Atlas also says x-rays and pearl growth rates indicate a return to larger pearl sizes in the 2016 financial year.
Atlas reported a net profit of $1.8 million for the 2014 financial year.
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15.0¢ |
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Mkt cap ! $65.85M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.5¢ | 15.0¢ | $22.99K | 150.1K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 49381 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
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| ATP (ASX) Chart |