June 20, 2013 / 4:22 AM / 4 years ago

HK cosmetic retailer Sa Sa annual profit up 19.7 pct

HONG KONG, June 20 (Reuters) - Hong Kong-based cosmetic retailer Sa Sa International Holdings Ltd posted a 19.7 percent rise in net profit for the year ended March, buoyed by strong demand from mainland Chinese tourists.

Sa Sa, which has a market value of nearly $3 billion, reported a profit of HK$825.6 million ($106.44 million) for the year ended in March.

That was up from HK$689.7 million a year earlier and in line with an average analyst forecast of HK$825 million, according to Thomson Reuters I/B/E/S.

Sa Sa, which competes with smaller rival Bonjour Holdings Ltd, said revenue rose 19.7 percent to HK$7.7 billion from HK$6.4 billion a year ago.

Its gross profit margin increased to 46.4 percent from 45.2 percent.

For the statement, click here ($1 = 7.7562 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Edwina Gibbs)

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