Hong Kong tycoon banks £45m from Superdrug
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.'
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