Lianhua Supermarket Boosts Turnover by 16%, Profit by 30%

Source: JML Pacific Epoch

Lianhua Supermarket Holdings (0980.HK) reported turnover of RMB 24.02 billion in 2009, representing an increase of 16.01% year-on-year, the company announced on March 31. Net profit was RMB 507 million in the same period, up 30.5% compared to the corresponding period of last year. The company attributed the growth to its continual improvement in operation and effective mergers and acquisitions.

Lianhua's overall same store sales (SSS) dropped slightly by 0.24% year-on-year, among which hypermarket SSS rose 0.44%, while supermarket and convenience store SSS dropped by 1.02% and 2.08% year-on-year, respectively.

The company added 1,058 new outlets during the period, bringing its total to 4,930.

Source article: http://www.jlmpacificepoch.com/newsstories?id=1623772_0_5_0_M