China lifts SamsoniteUS luggage maker Samsonite International (1910) reported over
70 percent profit growth last year as sales hit a record, led by the Asian market.
Net profit was US$148.44 million (HK$1.15 billion), up by 71.12 percent.
A final dividend of 2.665 US cents was proposed, up by 25 percent.
Net sales hit US$1.77 billion, driven by 18 percent growth in Asia, its largest market at 38.6 percent of overall revenue.
In 2012, Samsonite added over 700 points of sales in Asia, bringing its total to 6,350 as of year-end. Its global network comprises 45,000 points of sales.
China - the biggest contributor in Asia and the second-largest single country to the firm - contributed US$178 million net sales, up by 23.1 percent.
"We will stick to our expansion plan in the mainland. Sales are expected to increase around 20 percent this year," said chairman Timothy Charles Parker. The firm will add around 200 points of sales in the mainland, including 40 retail stores.
Shares of Samsonite rose 4.55 percent to HK$18.38 yesterday.
http://www.thestandard.com.hk/news_deta ... 30320&fc=4
It's all about "how much you made when you were right" & "how little you lost when you were wrong"