Companies / Hong Kong
Circle K Performs Strongly, But Retail Challenges Await
March 2008 | Company Finance AlertConvenience Retail Asia (CRA), the Hong Kong-based operator of the Circle K convenience store network and the island's Saint Honore bakery business, has announced very impressive 2007 financial results. Operating within a mature and highly competitive convenience retail sector, CRA saw revenues climb by 30.7% y-o-y to HKD2.92bn (US$375.3mn), while net profit rose by 15.7% to HKD86.87mn (US$11.2mn). However, while CRA used the positive financials to announce aggressive store opening plans for 2008, the retailer did concede that major operating challenges lay
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