Lotus Earned 9.3 Billion in 2010 and Opened No Stores

Write: Zanna [2011-05-20]

Lotus reported its performance ended in December 2010 that its operational revenue was 9.374 billion RMB, its gross profit was 1.733 billion RMB, and profit distributable to equity holders was 349 million RMB, compared with a loss of 235 million RMB in the previous year. The retailer decided not to pay any dividend.

Due to its sales promotions, price-cutting, and lowered stock level, Lotus gross profit growth rate decreased by 0.3 percentage point from 10.4% in 2009 to 10.1% in 2010.

In 2010 Lotus opened no new stores. However, it started a location in Guangzhou, Guangdong Province in January 2011, which has a construction area of around 10,300 m², a business area of 5,300 m², and parking space for over 500 vehicles.