Sa Sa sales and profits rise on ‘buoyant’ performance in Hong Kong and Macau
For the year ended 31 March 2009, the group recorded a profit of HK$381.1m, an increase of 20.6 per cent compared to the same period last year. EBITDA increased 17.7 per cent to reach HK$528m.
Strong sales in Hong Kong and Macau
Sa Sa described the performance of its retail and wholesale business in Hong Kong and Macau as ‘bouyant’, with turnover increasing 10.3 per cent to HK $3.2bn, and same store sales growth increasing 7.1 per cent.
The company attributed the strong performance to increased spending by residents and tourists, as well as an increase in the number of transactions, which although affected initially by the H1N1 outbreak and financial crisis, improved during the second half of the year.
Sales increased 63.1 per cent to HK $97m in Mainland China, and same store growth increased 13 per cent. This was mainly due to changes such as a broader marketing reach, extended product range and effective cost control measures, the company said.
Sa Sa also recorded improved sales in Singapore, Malaysia and Taiwan, as well as an increase of more than 50 per cent in online sales.
Improved product offerings and the integration of more user friendly functions leading to an enhanced shopping experience helped the company’s online sales increase 56.7 per cent to reach HK $240.9m, it was reported.
The company says it remains ‘cautiously optimistic’ for the coming year as it continues with its expansion in the Asia-Pacific region.
“Looking ahead, we will ride on our brand strength with high management flexibility, and prudent development strategy to drive expansion in Hong Kong, Mainland China and other markets,” said Sa Sa chairman and CEO, Dr Simon Kwok.