Latest news with #ASWatson
Telegraph
03-07-2025
- Business
- Telegraph
Hong Kong tycoon banks £45m from Superdrug
Hong Kong billionaire Sir Li Ka-shing has banked £45m from Superdrug after a surge in demand for low-priced beauty brands boosted sales. The British retailer paid out the £45m dividend in 2024 to its owner, AS Watson, which is part of Sir Ka-shing's Chinese conglomerate CK Hutchison, according to new filings. Sir Ka-shing, 96, has received £170m in payouts from the high street retailer since 2021. The latest dividend follows a surge in profits, despite Superdrug warning that 2024 had been ' another tough year for the retail sector '. Superdrug recorded a 23pc jump in pre-tax profits to £137m last year, which it said was mainly down to strong sales growth as revenues rose 7pc to hit £1.6bn. Bosses said this was because cheaper own-brand beauty ranges were more popular during the year, as hard-up shoppers were more sensitive to price rises. Peter Macnab, the Superdrug chief executive, said: 'Available, affordable and inclusive all remain at the heart of what we do, and clearly our excellent product offering, delivered with vibrancy and convenience, is resonating with more and more of today's shoppers.' Superdrug has been under the ownership of Sir Ka-shing's Chinese conglomerate since 2002. As one of Asia's richest men, he also owns other leading UK brands, such as pub chain Greene King. His conglomerate part-owns the Vodafone and Three network in the UK. Sir Ka-shing started his business career at the age of 22 with the launch of a manufacturing company in 1950 that eventually became the largest supplier of plastic flowers in Asia. Since then, his empire has ballooned, with Sir Ka-shing's company now controlling ports, infrastructure and telecoms across the West. Earlier this year, it was thrust into the spotlight after Donald Trump criticised CK Hutchinson's ownership of two ports in the Panama Canal. The US president argued that America should 'take back' the ports because of growing Chinese influence. CK Hutchison subsequently sold the ports to US investment giant BlackRock. The company has denied that the Panama sale was politically motivated. However, the move to sell the ports sparked a backlash from Beijing, which ordered Chinese state-owned businesses to stop doing deals with Sir Ka-shing's CK Hutchison conglomerate. A spokesman for Superdrug said: 'It is our responsibility to reward our shareholders, and the dividends paid are appropriate to our business size and situation, as well as the revenue delivered by Superdrug in 2024. We are thankful for their support in making Superdrug the successful business it is today.'
South China Morning Post
29-05-2025
- Business
- South China Morning Post
AS Watson and HSBC have grown together since the very beginnings of Hong Kong
Hong Kong is a renowned commercial and financial hub, and that status can be traced to the 19th century, when early entrepreneurs laid the foundations for the city's success with some of its most enduring household names. Among these is AS Watson, established in 1841 – as The Hong Kong Dispensary, with just a single shop. Over the following decades, the company's significance in Hong Kong grew alongside the city's rapid development. AS Watson was appointed chemist to the Hong Kong governor in 1869, and inspired by the need to have safe, clean water during the plague of the late 1890s, the company established Watsons Water in 1903. Today, as the world's largest international health and beauty retailer, AS Watson Group operates more than 17,000 stores in 30 markets around the globe, with some of the most recognisable brands including Watsons, ParknShop, Fortress, Superdrug and many more. All share a strong focus on customer experience, innovation and community. For Malina Ngai, group CEO of AS Watson, much of the company's success can be attributed to its long-standing partnership with HSBC, the Hong Kong-founded bank which celebrates its 160th anniversary this year. 'The story between AS Watson and HSBC goes back 160 years,' Ngai says. 'In fact, AS Watson appeared on HSBC's very first customer ledger in 1865. I believe that trust, understanding and shared experiences have defined the relationship over the last 16 decades.' Beyond sharing values, both AS Watson and the bank have grown together to become deeply ingrained in Hong Kong society. 'We have been touching the lives of different generations in Hong Kong through our retail offerings … and HSBC has also been part of the everyday life of Hong Kong,' Ngai adds. Together, the two Hong Kong stalwart brands strive to make a positive impact, contributing to a better future for the city and beyond while supporting their customers. 'We're proud to call Hong Kong home, so our shared success has grown from here,' Ngai says. 'For both HSBC and AS Watson, we remain as committed to Hong Kong as ever. It's this shared purpose that strengthens our bond, taking it beyond just business.'
