Suning Appliance Co. said its net profit rose 15.38% year on year in the third quarter of this year thanks to the country's policies to boost domestic demand and recovery in consumer confidence.
A People's Daily report said net profit for 3Q was 704.82 million yuan (approx. US103.19 million). Sales increased 8.02%.
The report said that Suning expected a substantial growth in the 4Q sales because of a lower comparison basis in the fourth quarter last year and further improvement in demand.
At the end of September, the retailer had 885 outlets in 193 cities nationwide.
Back to Breaking News