Sa Sa marks $1b for mainland

Cosmetics retailer Sa Sa International Holdings will spend $1 billion on 100 stores in the mainland over the next five years, according to chairman and chief executive Simon Kwok Siu-ming.

The firm yesterday reported a 43.3 per cent rise in net profit to $216.6 million for the year to March on turnover 22.8 per cent higher at $2.31 billion.

Despite the planned growth and a cash reserve of $743 million, the 100 per cent dividend payout ratio is being maintained for the second year.

Shareholders will get a final dividend of five cents and a special dividend of six cents a share, raising the year's payout to 17 cents from 12 previously.