Suning 2008 Net Profit Rises 48% Mar 6, 2009

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Chinese Retailer Suning Appliance Co. said its 2008 net profit rose 48% to 21.70 billion yuan (approx. US$3.17 billion). The company said in January that its net profit for 2008 would rise 40% to 50%, slower than a previous estimate of 60% to 80%. Its sales for the year rose 24.3%.

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