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November 28, 2009

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Robust growth on mainland lifts Sa Sa net

SA Sa International Holding yesterday said its profit soared 40.9 percent year on year in the first half of its fiscal year ended September 30, helped by robust growth on China's mainland, which erased doubts the cosmetic retailer could replicate its success in Hong Kong and Singapore on the mainland.

Its total turnover rose 8.3 percent from a year earlier to HK$1.76 billion (US$227 million) in the first half of its fiscal year. In comparison, Sa Sa's total turnover jumped 70.2 percent to HK$42.2 million and its same store revenue climbed 14.6 percent on the mainland in the same period, the cosmetic retailer said in a statement to Hong Kong stock exchange.

The performance on the mainland dismissed the market's doubts that Sa Sa would be successful on the mainland, as it expanded slowly and prices were higher compared with the discounted prices in its Hong Kong and Singapore stores.

Its online platform, Sasa.com, also performed admirably with turnover jumping 63.3 percent in the first half from a year ago to HK$111.9 million.

Sa Sa said it will open seven more stores on the mainland by March to bring the total to 20.




 

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