Suning Reports Q3 Profit
Nov 2, 2009
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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.
(People's Daily)

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