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Zhongmin Baihui full year has a profit surge

Vincent Chia

Zhongmin Baihui Retail Group Limited announced its full year results. Full year revenue was up 8% year-on-year to RMB 1,366.9million while full year net profit was up 220% year-on-year to RMB 32.0million. This was attributed to the implementation of cost savings measures at their Nanjing Nanzhen Store. This resulted in a substantial improvement in performance from the store. These cost saving measures will be rolled out to their other stores with the aim of improving profitability. Going forward, Zhongmin Baihui expects to open 3 new stores in 2015 in Quanzhou, Putian and Xiamen. This will bring their total to 15 stores.

GET TO THE POINT : Looks like Zhongmin Baihui has found some good cost saving measures that will improve profitability in the rest of its stores.

(Picture from Zhongmin Baihui Retail Group Limited)

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The post Zhongmin Baihui full year has a profit surge appeared first on Asean Equities Review.