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BUZZ-HK beauty products chain Sa Sa near 7-week low after loss forecast

05/11/2021 00:39
BUZZ-HK beauty products chain Sa Sa near 7-week low after loss forecast

** Shares of skincare and beauty products chain operator Sa Sa International Holdings Ltd 0178.HK fall as much as 5% to HK$1.71, their lowest since March 25

** Stock last down 2.8%, on track for the worst day since March 24 and a fourth consecutive session of decline

** Retailer expects to post up to HK$340 mln ($43.78 mln) loss for the year ended in March, excluding impairment losses on right-of-use assets and property, plant and equipment nFWN2MX0BP

** Co had posted HK$205 mln loss in the previous year

** Says it has sufficient cash on hand to meet current business needs

** The Hong Kong Hang Seng consumer goods and services index .HSCGSI falls 1.9%, and the benchmark index .HSI drops 2.2%

** As of last close, the stock had surged 48.8% this year

($1 = 7.7660 Hong Kong dollars)


(Reuters Messaging: [email protected])