Beauty and daily merchandise retailer Poya International Co (寶雅國際) yesterday reported first-quarter profit beyond expectations, as recovering consumer traffic and customer membership programs helped lift its sales.
Poya posted NT$657.61 million (US$21.46 million) in net profit for January to March, up 30.23 percent from NT$504.95 million a year earlier.
That translated into earnings per share (EPS) of NT$6.43, up from NT$5.01 the previous year, marking the highest since the third quarter of 2020, when EPS stood at NT$7.03, company data showed.
Photo courtesy of Poya International Co
Gross margin was also stronger than expected at 44.7 percent in the first quarter, up 1.69 percentage points from a year earlier, while operating margin rose 1.98 percentage points to 15.75 percent after the company’s consolidated sales increased 12.31 percent year-on-year to NT$5.29 billion, the highest for the three-month period in the company’s history.
Fubon Securities Investment Services Co (富邦投顧) earlier said it had expected Poya to post first-quarter sales of NT$5.46 billion and net profit of NT$640 million, with EPS of NT$6.26.
Poya is one of the nation’s major distributors of cosmetic and skincare products, with competitors including Hong Kong’s AS Watson Group and Japan’s Tomod’s Inc.
Poya sells cosmetics, lingerie, skincare and stationery products through its 323 namesake stores, including seven “Poya Beauty” flagship stores, and operates 40 Poya Home hardware outlets.
Fubon said the first-quarter results reflect Poya’s efforts to enhance its operating scale to maintain its leading position among Taiwan’s cosmetics distribution channels.
New product offerings, such as high-margin cosmetics at Poya Beauty stores, could further lift the firm’s gross margin and operating margin in the near future, it added.
Poya said it plans to open 35 to 40 new stores this year, aiming to expand its operating scale to 350 cosmetics stores and 55 hardware outlets by the end of the year.
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