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China's Suning Appliance says H1 Earnings to Double Jul 31, 2007 |
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Suning Appliance Co. , China's second-largest electronics retail chain, said its unaudited net profit would show a 111% increase year on year in the first half due to an expansion of its sales network.
Net profit at the company is expected to have reached 578 million yuan (US$76.39 million) in the first half. It estimated its turnover had risen 61% in the first half of 2007.
Suning also said it added 71 stores in the first half. By the end of June, the company had a total of 413 outlets in 103 cities across China.