not vested
Sa Sa's profit jumps 35pc to $440mby Janice Huang
Skincare and cosmetics retailer Sa Sa International Holdings (0178) saw its net profit jumped 34.7 percent while
turnover rose 6.2 percent for the year ended March 31, 2018, when compared with the same period a year before.
Taking into account of the net loss of HK$25.1 million from its
discontinued operation in Taiwan, the company's net profit stood at HK$440.1 million, while the revenues were HK$7.55 billion.
In particular, retail and wholesale sales in Hong Kong and Macau increased 7.9 percent from HK$6.27 billion in the previous year to HK$6.76 billion, while same-store growth was 3.9 percent.
In a stock exchange filing, the company revealed that demand for middle and high-end cosmetics product is soaring in mainland China, on the back of strong retail growth driven by the improved purchasing power of mainland residents living in the third and fourth-tier cities.
The group's basic earnings per share were 14.6 HK cents as compared to 11.2 HK cents for the previous year.
The retailer has proposed a final dividend of 11 HK cents per share, together with a special dividend of 3 HK cents to commemorate the 40th anniversary of the company.
Total annual dividend amounted to 17.5 HK cents.
The group's retail outlets for the continuing operations increased from 263 last year to 265.
Chairman and chief executive Simon Kwok Siu-ming said Sa Sa plans to open at least five or six new stores in Hong Kong this fiscal year, and might set up more outlets if the conditions permit.
Sa Sa's loss in e-commerce business narrowed to HK$28 million, from HK$67 million a year before.
Kwok said that though he could not guarantee a profit would be achieved, he had confidence in increasing revenues in this particular business segment.
Kwok said that there was a rebound in the number of mainland visitors in Hong Kong in the months of March and April, with an increase of 10 percent and 15 percent respectively.
He added that the increasing trend in mainland tourist arrivals would continue in the future, thanks to the Hong Kong-Zhuhai-Macao Bridge and the high-speed rail link. He also said he was positive about the retail market for the second half of this year.
Kwok said that Sa Sa would not be affected by currency fluctuations, although the Chinese yuan has been weak recently.
The consumer sentiment of mainland visitors might decline, Kwok said, but added that revenue from those customers only account for a small part of Sa Sa's total revenue.
Source: The Standard
http://www.thestandard.com.hk/section-n ... 0622&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"