Retail News
- Higher sales life Suning profit
Date: 12-Mar-2007 Sources: (Shenzhen Daily)
SUNING Appliance Co., China's second-biggest home-appliance retailer, said Saturday 2006 profit doubled after it opened new stores and boosted sales.
Net income rose to 720 million yuan (US$93 million), or 1 yuan per share, from 351 million yuan, or 1.05 yuan per share, the company said in a statement. Sales rose 56 percent to 24.9 billion yuan. Earnings per share were based on 721 million shares, compared with 335 million a year before, the statement said. Suning opened 136 stores last year, bringing its total number of outlets to 351 in 90 cities, according to the company.
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