Bossini International grows turnover figure by 9% in 2005
19 Jul '06
4 min read
Sales in Hong Kong, the headquarters and primary market of the Group, grew 9 percent to HK$1,130 million (2005: HK$1,035 million), accounting for 52 percent (2005: 52 percent) of consolidated turnover.
Following by sales in Mainland China rose 11 percent to reach HK$490 million (2005: HK$443 million), accounting for 22 percent (2005: 22 percent). Taiwan and Singapore, grew 9 percent and 5 percent to HK$379 million (2005: HK$348 million) and HK$200 million (2005: HK$191 million), accounting for 17 percent (2005: 17 percent) and 9 percent (2005: 9 percent) of the total turnover respectively. The overall same store sales growth recorded a negative growth of 5 percent (2005: 11 percent growth).
The Group adopted a pragmatic expansion approach in most of its core markets and successfully increased the total number of outlets worldwide to 1,068, of which 521 (2005:409) were directly managed outlets and 547 (2005:418) were franchised outlets as at 31 March 2006. Leveraged on its successful experience in Singapore, the Group opened 3 directly managed outlets in Malaysia and entered into 2 new markets, Nepal and Myanmar, in its export franchise business.
The export franchise business continued to be a bright spot with a 33 percent year-on-year revenue growth. The Middle East and the Group's relatively new markets, namely Thailand and Indonesia, grew at a much faster pace than overall division sales.
Ms Kathy Chan, Executive Director and Director of Finance of Bossini, said, “The management expects the current adverse market situation to continue in the coming year. To ensure the Group remains on a profitable track going forward, we will place strong emphasis on product, Mainland China market and people. Our objectives are to offer even better products to customers, further develop the lucrative Mainland China market, and to uphold the spirit of a learning organization to attract and nurture a talented pool of quality staff.”
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