The cosmetics chain reported a gain of 276 per cent in earnings to HK$218.9 million (US$28 million) for the end year ended March 31. The return of mainland tourists helped drive Sa Sa’s turnover up by 25 per cent to HK$4.

37 billion, with sales in Hong Kong and Macau increasing by 35 per cent to HK$3.21 billion, according to the company’s latest annual report. It proposed a final dividend for the year of 5 HK cents per share, representing about 70 per cent of the profit for the year.

No dividend was paid in 2023. 03:39 Shop occupancy recovers in Hong Kong, but vacant stores still visible across the city Sa Sa’s share price jumped 7.9 per cent to HK$0.

82 at Thursday’s close. “Following the resumption of cross-boundary travel between Hong Kong, Macau and mainland China in January 2023, the return of tourists triggered revenge spending, which drove business growth,” he said. Despite this, the cosmetics vendor’s overall approach to store expansion will be prudent and will accelerate only when policies favourable to the sector are introduced, Kwok added.

“We don’t have a store-opening target this year and we have to assess whether the retail market is improving,” he said. Kwok said if the mainland and Hong Kong governments could agree to introduce measures such as multiple-entry permits for residents of the Greater Bay Area and increase the duty-free allowance for tourists, it would be a big help to the city’s retail market. Sa Sa had 82 shops in Hong Kong and.