Not vested. I still see more people at Sephora.
Sa Sa earnings jump 20pc by Ellen Wang
Friday, June 25, 2010
Sa Sa International Holdings (0178) said net profit for the year ended March 31
rose 20.6 percent to HK$381.1 million as the economy strengthened and the impact of swine flu receded.
The cosmetic retailer's
revenue jumped 13.9 percent to HK$4.11 billion - 49.8 percent of which came from mainland customers.
A final dividend of five HK cents and a special dividend of 14 HK cents were declared.
Chairman Simon Kwok Siu-ming said Sa Sa's mainland business picked up with the
net loss narrowing to HK$18 million from HK$27 million.
Kwok declined to predict when the mainland business will turn around and record a profit.
But he said the group plans to allocate more resources to speed up expansion by increasing its mainland outlets to at least 67 by March from the current 35.
"We have confidence in the mainland market and will be patient," he said, adding that he believed the priority is to expand the distribution network.
The retailer plans to invest HK$70 million in markets outside Hong Kong.
That is half its total capital expense for the year ending next March. Sa Sa had HK$646.3 million cash in hand as of March 31.
Sales in
Hong Kong grew 18.6 percent between April and June - the first quarter of its current financial year - but only 2.03 percent for the whole group, according to Kwok.
He expects double-digit growth in total sales this year on the back of a stronger yuan, closer ties between Hong Kong and the Pearl River Delta, increases in mainland consumers' purchasing and spending power, and a growing appetite for travel.
http://www.thestandard.com.hk/news_deta ... 00625&fc=8
It's all about "how much you made when you were right" & "how little you lost when you were wrong"