HK-listed cosmetic chain Sa Sa jumps on upbeat profit outlook

Sa Sa International Holdings

09/05/2023 03:05

** Shares of cosmetic and skin care products chain operatpr
Sa Sa International Holdings Ltd  0178.HK  jump as much as 8.9%
to HK$1.83 
    ** Stock on track for the biggest daily one-day percentage
rise since Dec 13, if gains hold
    ** Sa Sa expects to record a net profit of HK$50 mln-HK$70
mln  ($6.4-$8.9 mln) for the year ended March 2023, versus
HK$344 mln loss in fiscal 2022 and HK$133 mln loss for six-month
period ended September 2022 
    ** Co expects to record HK$183-203 mln net profit for the
fiscal second half ended in March, driven by gross margin
expansion and sales growth in Hong Kong and Macau in three-month
quarter ended March 2023 after the reopening of border between
Hong Kong and Mainland China
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.9% and the Hang Seng Consumption Index  .HSCGSI  falls 1.2%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both slip 0.5%
    ** As of last close, stock down 7.7% this year
    ($1 = 7.8489 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))