Going down: FY profit plunges 54.3 percent at Sa Sa International

Going down: FY profit plunges 54.3 percent at Sa Sa International

Sa Sa International has announced its results for the year ended March 31, 2016. The retailer saw sales in Hong Kong and Macau dive 14.2 percent year-on-year to HK$6,231.6 million amid a ‘continuous drop in mainland China tourist arrivals’.

Group turnover was down 12.8 percent to HK$7,845.9 million, and profit plunged 54.3 percent to HK$383.5 million.

However, it wasn’t all bad news, sales were up 6.2 percent for the e-commerce channel, reaching HK$442 million thanks to the newly launched Mainland China and Mainland China mobile sites, and business continued to boom in the perfumery chain’s Malaysian stores, with sales up 9.1 percent in local currency terms.  

“For many years, Sa Sa has continued to strengthen performance and profits despite many difficult economic environments and cross-currents. We believe we can continue to sharpen our competitiveness in the future and convert challenges into opportunities, such as those offered by O2O, by adapting to new consumer patterns and by leveraging on our proximity to southern China,” commented Simon Kwok, BBS, JP, Chairman and CEO of the group. “We remain committed to a vision that builds on the flexibility and scalability of our business model, with its ability to rapidly respond to new markets, situations and trends – a vision that will continue to support our position as a leading provider of beauty products in the Asia-Pacific region. We believe that the flexibility and resourcefulness of our loyal staff and the long-term vision of our dedicated management team will ensure that we continue to deliver sustained, world-class growth for many years to come.”

 

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