Beijing Hualian Hypermarket Profits Down 47% In H1 2009

Beijing-based retailer Beijing Hualian Hypermarket has published its financial report for the first half of 2009 and states that both its operating profit and net profit declined by about 47% during the period.

According to the report, Beijing Hualian Hypermarket made revenues of CNY4.68 billion in the first six months of 2009, a year-on-year increase of 8.4%; however, its operating profit decreased by 47.7% year-on-year to CNY73.28 million, and its net profit decreased by 46.8% year-on-year to CNY53.41 million.

The report also says that the company opened six new outlets, including two boutique supermarkets, in the first half of 2009.

For the second half of this year, the retailer plans to enhance promotions and increase the success ratio of new stores, to raise its share in the Chinese retail market.