Jusco Stores (Hong Kong) jumped back in the black in the year to the end of February, despite last year's sluggish consumer spending and fierce price cuts.
Its net profit of HK$32.51 million turned around the HK$23.28 million loss a year earlier.
Turnover was 18.5 per cent higher at HK$3.27 billion, from HK$2.76 billion previously.
Earnings per share were 12.51 HK cents and a final dividend of four HK cents was recommended.
Jusco out-performed the market, posting double-digit sales growth from the fourth quarter last year, while the overall retail market recorded only a 5.7 per cent to 6.1 per cent growth during the period. Sales at its Guangzhou store also grew by 34.9 per cent.
Gross profit margin remained at about 26 per cent, similar to the level of the previous year, accounts and finance director Arnold Wong said, partly attributing the good result to an effective cost control system. It saw staff costs fall to 8.9 per cent of turnover against 10.1 per cent previously.