The Man Sang Group, one of the world’s largest manufacturers of saltwater and freshwater cultured pearls, announced that earnings in the quarter ending June 30 were down 6 percent compared with the same quarter last year. The company cited the tightening economy, high oil prices, and fluctuating gold prices as contributing factors. Gross profit margin increased to 30.7 percent, up 1.1 percent over last year’s figures. Man Sang posted $12.6 million in gross profits.
The price of Man Sang stock has fallen slightly over the past year and a half, after posting record highs in December 2004 and January 2005.