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Cosmetics boom puts gloss on Sa Sa results
By Pan Xiaoyi |
November 27, 2009, Friday
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Online Edition
Online Edition
SA Sa International Holdings said today profits rose 40.9 percent year on year in the first half of the fiscal year ending on September 30, helped by robust growth on China's mainland.
Total turnover amounted to HK$1.76 billion (US$227,096) in the first half, up 8.3 percent from a year earlier. In comparison, Sa Sa recorded turnover growth of 70.2 percent to HK$42.2 million and a 14.6 percent increase in same-store growth on China's mainland in the same period, the leading cosmetic retailer in Asia said in a statement filed to Hong Kong Stock Exchange.
The outstanding results on the mainland partly dismissed doubts that Sa Sa could bring its success story to the mainland due to its slow expansion here and higher prices compared with discounts in Hong Kong and Singapore stores.
"In the second half of the fiscal year, we will focus strongly on developing our multi-brand stores on the mainland, which are already delivering an improving performance and gradually gaining more market recognition," said Kwok Siu Ming, chairman and CEO of Sa Sa.
Sa Sa said it will open seven more stores on the mainland by March 2010 to bring the total to 20.
Total turnover amounted to HK$1.76 billion (US$227,096) in the first half, up 8.3 percent from a year earlier. In comparison, Sa Sa recorded turnover growth of 70.2 percent to HK$42.2 million and a 14.6 percent increase in same-store growth on China's mainland in the same period, the leading cosmetic retailer in Asia said in a statement filed to Hong Kong Stock Exchange.
The outstanding results on the mainland partly dismissed doubts that Sa Sa could bring its success story to the mainland due to its slow expansion here and higher prices compared with discounts in Hong Kong and Singapore stores.
"In the second half of the fiscal year, we will focus strongly on developing our multi-brand stores on the mainland, which are already delivering an improving performance and gradually gaining more market recognition," said Kwok Siu Ming, chairman and CEO of Sa Sa.
Sa Sa said it will open seven more stores on the mainland by March 2010 to bring the total to 20.
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