Fully integrated Atlas Pearls and Perfumes (ASX:ATP) has reaped sales of A$2,146,398 from an auction of pearls held in Kobe, Japan.
This was 26% above budget and average price of sold lots was up by 14%.
This is the best auction result since the global financial crisis, evidence that demand is returning for Atlas pearls.
Atlas specialises in South Sea pearls and sought after white and silver pearls and operates pearl farms across Indonesian including Bali and West Papua.
Atlas operates a grading and loose pearl distribution business, plus a jewellery manufacturing capability and sells direct to customers through wholesale partners and via its retail outlets.
The Group ended the 2014/15 financial year with secure liquidity of $3.8 million.
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