Haier's Profit up 20.6% in 2008 Jan 29, 2009

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Haier reported its net profit up 20.6% last year, thanks to the Chinese central government's initiative to subsidize purchases by rural residents. The group's turnover increased 8% to 122 billion yuan (approx. US$17.8 billion) last year. Sales in overseas markets rose 9.8% year on year. Haier said it sold 1.2 million units of home appliances. It has 21,000 outlets in Chinese townships and 73,000 sales points in villages.

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