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Atlas Pearls books $2.3 million of sales as pearl market improves

Published: 17:00 06 Aug 2013 AEST

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Atlas Pearls and Perfumes (ASX:ATP) has booked A$2.3 million of sales of pearls with the highest average price achieved since 2007, and its most successful pearl sales event.

Atlas operates two hatcheries in Indonesia which have performed better than a number of its brethren in the country, with an increase in the numbers of juvenile pearl oysters in grow-out encouraging for the quality selection programme.

Atlas’s recent harvests were auctioned in Kobe (Pearl City) Japan over July 29th and 30th at the premises of the Japan Pearl Exporters Association.

Group revenue for July 2013 has more than doubled compared with the same period last year.

This is the result of successfully implementing innovative export strategies for pearls, significant improvement in market sentiment and the introduction of the new perfume division.

Group revenue in July 2013 was approximately AUD$2.6 million as compared to A$1.2 million in July 2012.

Atlas had responded to the recent challenges in the pearl market by establishing an auction process in Kobe, Japan. Two more auctions are planned between now and December. The auction revenues are complemented by direct selling of loose pearls and strands to niche customers.


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