Chinese retailer Wumart Stores has posted underlying annual profit growth of almost 27% thanks to higher comparable-store sales and contributions from recent acquisitions.
Wumart, the leading retailer in Beijing, yesterday (24 March) reported a 26.8% rise in underlying net profit for 2008.
Including a one-off gain from an asset disposal and gains from fair value changes in 2007, net profit jumped 63.4% to CNY490.3m (US$71.8m).
Revenue was up 24% at CNY9.74bn with comparable-store sales rising 8.1%, Wumart said.
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