Business Intelligence on Retailing, Franchising, and Consumerism in China

Chow Sang Sang Net Profit Up 22% In 2009

Hong Kong-listed jewelry company Chow Sang Sang Holdings International Limited has published its annual financial report for 2009, stating that its net profit increased by 22% year-on-year to HKD574 million.

According to the report, the company's total operating revenue in 2009 was HKD9.463 billion, a decrease of 4% compared with that in 2008. Of the total revenue, HKD5.922 billion was contributed by its jewelry retail business, a year-on-year increase of 11%; and revenue from other businesses was HKD3.54 billion, a year-on-year decrease of 22%. At the same time, its revenue in the Chinese mainland market was CNY1.875 billion, a year-on-year increase of 22%.

During the year of 2009, Chow Sang Sang opened 29 new stores in mainland China. By the end of the reporting date, the company had opened 157 stores in mainland China and 19 additional stores were under construction.

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