China’s Sun Art Retail says quarterly profit rises 16pc

Sun Art Retail Group, China’s largest hypermarket chain in market capitalisation, said on Wednesday first-quarter net profit rose 16 per cent from a year earlier as it continued to expand into lower-tier Chinese cities.

Net profit rose to 1.06 billion yuan for three months ended in March, with revenue rising 12.9 per cent year-on-year to 25.4 billion yuan, the company said in a filing to the Hong Kong bourse.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1238079/chinas-sun-art-retail-says-quarterly-profit-rises