HKG:0178

Jefferies Upgrades Sa Sa International to Buy from Hold, Adjusts Price Target to HK$1.14 from HK$0.67

Sa Sa International Expects Higher Full-Year Profit

Sa Sa International (HKG:0178) expects to record an attributable profit of about HK$190 million to HK$205 million for the year ended March 31, up from HK$77 million a year ago, according to a Wednesday Hong Kong bourse filing.The anticipated increase in profit is mainly due to stronger same-store sales and transaction metrics in Hong Kong and Macao, improved operating efficiency of its online platform, and reduced losses following the closure of offline operations in mainland China.

Sa Sa International Books 31% Higher Turnover in Fiscal Q4

Sa Sa International (HKG:0178) posted a 31% rise in turnover in the fourth fiscal quarter to HK$1.23 billion from HK$942.2 million a year earlier, a Wednesday Hong Kong bourse filing said.The beauty retailer's offline sales in the quarter ended March 31 jumped 33% to HK$1.07 billion from HK$803 million a year ago.Online sales also increased 19% to HK$165.5 million from HK$139.2 million previously.The company operated 160 stores as of March-end, up from 156 a year earlier.