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SA SA INT'L (00178.HK) issued a profit warning, expecting the turnover for the five months ended 31 August 2019 to decline approximately by 15% to around HK$3 billion as compared to the corresponding period last year, while that of Hong Kong and Macau markets also dropped by 17%. The Group’s sales performance in August was the weakest, down by 28% year-on-year, while that of Hong Kong and Macau markets also declined by 32%.
The main reason for the Group's performance decline is the weak sales performance in its core markets in Hong Kong. The sales performance was hit by the decline of visitor arrivals from mainland China to Hong Kong, as well as weaker consumer sentiment, caused by continuous social incidents in Hong Kong, increasing tension of Sino-US trade war and the Renminbi depreciation.
AAStocks Financial News
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