Cosmetic retailing group Sa Sa International Holdings, which reported a 35 per cent year-on-year rise in net profit for the 12 months ended March, expected sales growth to slow this year because of the global economic downturn.
Net profit climbed to HK$689.7 million from HK$509.3 million a year earlier.
The group's turnover rose 30.7 per cent to HK$6,405 million, driven by core markets in Hong Kong and Macau. Earnings per share increased 6.4 HK cents to 24.6 cents, and the total annual dividend per share is 17.5 cents.
Sales at Sa Sa increased 15 per cent year-on-year in the three months ended June, down from a 26 per cent increase in the six months ended March and 34.8 per cent growth in the previous six months ended September.
Tourist numbers grew 14.4 per cent in April from a year earlier in Hong Kong, the slowest increase in 14 months. Mainland tourists account for 64 per cent of sales at Sa Sa's Hong Kong and Macau stores.
Same-store sales at Sa Sa increased 12.4 per cent in the three months ended June, compared with 20.9 per cent growth in the six months ended March.
The company attributed the slower growth to the higher base last year.