Sun Art Retail Group has booked an increase in turnover and profits during the first nine months of the year.
The Chinese hypermarket operator said sales rose to CNY65.69bn (US$10.78bn) in the nine months to 30 September, up from 11.7% on the comparable period of last year.
Go deeper with GlobalData
In its unaudited interim results, published yesterday (14 November), Sun Art revealed profit growth outpaced sales gains. Operating profit rose 25.4% to CNY3.17bn and net profit gained 27% to CNY2.31bn.
Sun Art Retail has pursued a strategy to expand via store openings and the company is set to launch an online delivery business in the fourth quarter of this year. It was also touted as a suitor for the ParknShop supermarket chain, which was taken off the block by owner Hutchison Whampoa last month.
At the same time as driving expansion, Sun Art Retail has focused on cost management and is driving operational and staff efficiencies.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
