Sa Sa net plunges; HK, Macau sales drop by 14.2pc
Finance | 23 Jun 2016 8:45 pmCosmetics retailer Sa Sa International Holdings (0178) reported today profits for the year ended March 31, 2016, dropped by 54.3 percent to HK$383.5 million.
Basic earnings per share were 13.4 HK cents compared with 29.5 HK cents for the
previous year.
Turnover shrank by 12.8 percent from HK$8.99 billion to HK$7.84 billion.
Retail sales in Hong Kong and Macau fell by 14.2 percent from HK$7.25 billion to
HK$6.23 billion, the company reported.
Sa Sa proposed final and special final dividends per share of 14.5 HK cents, making a total annual dividend of 23.5 HK cents per share.
The company closed eight stores in Hong Kong and Macau and opened 12 in the year to March 31, 2016. It operates 111 stores in Hong Kong and Macau, and 57 in the mainland.
Hong Kong and Macau turnover fell by 14.2 percent year-on-year from
HK$7.35 billion to HK$6.31 billion. Same store sales fell by 11.8 percent.
The total average sales value per ticket fell by 10.2 percent. Transactions by mainland tourists fell by 7.1 percent, while average sales value per ticket dropped by 11.2 percent, the company reported.
The number of transactions by local consumers fell by 1.2 percent with an average spending decrease of 3.5 percent.
