Discount cosmetic products retailer Sa Sa International Holdings has been hit by plunging tourist arrivals in Hong Kong with sales to visitors down 15 per cent.
But domestic sales have offset the slump.
Net profit was up 141 per cent to $163.84 million for the six months to September.
Chairman Simon Kwok Siu-ming said tourists - mainly from Japan - accounted for 25 per cent of the company's $575.98 million in sales for the six months to September, with the rest coming from Hong Kong customers.
Despite the decline, Sa Sa managed to shrug off the tourist slump and post a rise in total sales of 20 per cent during the period.
The company offers markdowns of up to 40 per cent off department store prices on cosmetic, skin care and perfume products, protecting the firm from a wider retail downturn, Mr Kwok said.
'It's undeniable that tourism in Hong Kong saw a downturn in the past six months, but I think there will be a recovery next year,' Mr Kwok said.
