Suning Appliance Company, one of China's biggest home appliance retail chains, looks for net profits to grow 70-100 percent in the first half of the year. The expectations were included in a statement on the Shenzhen Stock Exchange. China retail news outlet Research in China said first-half net profits for Suning in 2006 were 257 million yuan (approx. U.S. $33 million). First-quarter 2007 net income was tripled, and the retailer reported a 70-percent increase in sales. The increase was largely attributed to aggressive expansion, with 29 new stores opened in March alone.
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