Reuters: Financial Services and Real Estate: Samsonite says to add 500 new points of sale in Asia

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Samsonite says to add 500 new points of sale in Asia Mar 28th 2012, 04:21 HONG KONG, March 28 | Wed Mar 28, 2012 12:21am EDT HONG KONG, March 28 (Reuters) - Samsonite International SA , the world's biggest luggage maker, said on Wednesday that it plans to add 500 new points of sale in Asia, with 200 of those in China, as it seeks to tap strong growth in the world's second-largest economy. Chief Executive Tim Parker was speaking on Wednesday after the company reported a 75.6 percent drop in 2011 net profit. Parker said the company was present in 60 mainland Chinese cities and would add 25 more this year. The brand which makes luggage under the Samsonite and American Tourister brands said that after eliminating non-recurring costs and charges, adjusted net income was up 29.6 percent at $136.8 million. Shares in Samsonite, which counts Royal Bank of Scotland Group Plc as a major shareholder, were down 0.85 percent on Wednesday, compared with a 0.95 percent drop in the Hang Seng Index.

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