Gems TV Holdings, the television home shopping retailer of genuine gemstone jewellery, says net loss in 2Q10 narrowed to US$6.3 million ($8.9 million) (Q109: US$18.5 million net loss), a 66% improvement as a result of effective cost control measures undertaken across the group.
Overall product revenue fell 15% to US$40.2 million in 2Q10 (2Q09: US$47.4 million). Revenue from shipping and services decreased 11% to US$3.2 million in 2Q10 (2Q09: US$3.6 million), in line with the reduction in product revenue.
