Sa Sa International First-Quarter Turnover Rises 5%, Launches HK$20 Million Buyback Plan; Shares Surge 9%

MT Newswires Live
07/09

Sa Sa International Holdings (HKG:0178) reported a 4.7% year-on-year rise in group turnover to HK$959.8 million for the quarter ended June 30, supported by a 7.3% increase in offline sales driven by recovering tourism in Hong Kong and Macau, according to a Tuesday bourse filing.

Shares of the company were up about 9% in Wednesday morning trade.

Same-store sales in the core market rose 11.2% amid improved transaction volume and spending.

Online sales fell 4.3% to HK$192.7 million, with Mainland China e-commerce revenue down 19.2% on a high base, the company said.

The beauty retailer also disclosed a share purchase plan of up to HK$20 million over the next 12 months, combining open-market buybacks and purchases under its 2014 share award scheme.

The board said the plan reflects confidence in Sa Sa's long-term prospects and aims to support shareholder value amid recent share price volatility.

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