Sales soar in China
Asian cosmetics retail group Sa Sa International Holdings Limited has announced a 32.7% rise in consolidated sales for the six months ended 30 September 2011 to HK$2,786m. The group’s strong performance was underpinned by growth in its core market, Hong Kong and Macau, which saw turnover increase 35.3% on the prior year period.
According to the group, increases in this region were driven by buoyant consumer demand, as well as a weakening US dollar and high inflation in Mainland China, which made the price of cosmetics in Hong Kong and Macau more appealing.
Sa Sa’s reported profit for the period was HK$224.3m, up 23%, while basic earnings per share amounted to 8.0 HK cents, compared to 6.3 HK cents for the same period last year.
The group continued to make progress in Mainland China, where turnover grew 80.8% to HK$108.5m. It now has 39 stores in 14 cities across China.