759 STORE opened 57 more retail outlets in 12 months to 30 April 30, total of 249 shops in HK.
CEC International Holdings (0759.HK) announced its results for the financial year ended 30 April 2015 on 3 July, it recorded annual net profit climbed 16.6% yearly to $27.708 million, while profit mainly came from its operation of local retail chain of 759 STORE.
759 STORE are leading to a total of 249 shops which selling products from snacks, cosmetics, household goods and baby toys to bedding, also including five restaurants and one bakery. It recorded the revenue of $2,134 million, up approximately 48% when compared to the same period of 2014.
An annual dividend of 1 HK cent was proposed to stockholders, up from 0.7 HK cents last fiscal year.
The company aims to transform 759 STORE into a brand of “a large grocery store” or “a small department store” in the future.
CEC International, the operator of local retail chain 759 STORE, saw annual net profit surge 16.6 percent to HK$27.7 million from the previous fiscal year, thanks to its fast-growing retail business.
Turnover of 759 STORE soared 32.3 % to HK$2.42 billion, with almost 90 percent coming from retail sales. Gross profit margin rose to 31.8 percent, up 1.9 percentage points, due to expansion of its higher margin retail business.
Moreover, 759 online was launched to develop its regional retail business in August. Chairman Coils Lam Wai-chun expected e-commerce business to break even in five years.