What the Broker Said...
Sa Sa International is a leading discount cosmetics retail chain with operations in several Asian countries, including China and Taiwan.
One year ago, investment house Core Pacific-Yamaichi continued to maintain a speculative buy recommendation on the company as it expected Sa Sa to rise, due to the company's earnings recovery.
The 12-month target price for the stock was forecast at HK$1.80 after Sa Sa management revealed plans to develop and expand the company's focus.
Net profit was predicted to top HK$80 million in response to improve consumer confidence and cost-cutting measures.
Core Pacific-Yamaichi said: 'We believe our full-year target is achievable, given the second-half includes the peak seasons of Christmas and [Lunar] New Year.'
Sa Sa appointed a new chief executive in August 1999, to mark a new era in the company's progression.
Management drew up expansion plans that included developing e-commerce operations.