SaSa achieves massive turnaround as tourists return to Hong Kong

(Source: Sasa)

Hong Kong-headquartered beauty retailer Sa Sa International swung to profit on the back of higher sales during the six months ended September 30.

The company booked a profit attributable to shareholders of HK$102.4 million (US$13.1 million) as turnover surged 38.3 per cent to HK$2.14 billion (US$274.5 billion), amid the return of tourists to Hong Kong.

SaSa’s Hong Kong and Macau business posted a revenue growth of 57.9 per cent, while its Mainland China and Southeast Asia divisions fell 12 per cent and 4.2 per cent, respectively. Revenue in other regions – a small part of its overall business – surged 405.7 per cent.

While the company’s online sales remained flat at HK$298.8 million (US$38.3 million), they accounted for 13.9 per cent of overall sales. Offline sales amounted to HK$1.85 billion (US$237.3 million).

Meanwhile, in the early part of the current quarter, between October 1 and November 12, turnover increased 27 per cent year over year to HK$525.8 million (US$67.4 million).

Moving forward, the company said that Mainland China remains its core focus for long-term growth strategy. In addition, Sa Sa will re-enter Singapore, with three stores planned in the second half of the fiscal year.

The company also said that it will step up its brand and product assortment and continue to focus on selling on Shopee and Lazada to grow its revenue.

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