Suning reports higher net profit in China

Write: Thabit [2011-05-20]

Suning reports higher net profit in China

Chinese home appliances retailer Suning has published its semi-annual financial report, stating that due to the incentive policy in China's home appliances industry, its net profit increased by 56.08% year-on-year to 1.974 billion in the first half of 2010.

During the same period, its total operating revenue was 36.055 billion, a year-on-year increase of 31.90%; and its profit per share was 0.28, a year-on-year increase of 47.37%.

From January to June 2010, Suning opened 134 new retail chain stores on the Chinese mainland. It also optimized its network in Hong Kong and had 20 stores in the region by the end of June.

By June 30, 2010, Suning's total assets reached CNY39.476 billion, an increase of 10.14% compared with the 35.84 billion at the end of 2009.