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31.7 percent profit increase for Lianhua
China
Tuesday 26 April 2005
Chinese supermarket chain Lianhua has posted net profits of 216 million yuan (EUR 20 million) for 2004.
Total sales for the year reached 10.9 billion yuan (EUR 1 billion).
Lianhua is the largest retail chain in China with 3,123 stores, and added 620 new stores in 2004 as it launched a series of merger and acquisition activities to strengthen its market share as competition in the Chinese retail market hots up.
