Retail in Asia

In Sectors

HK’s China Resources sees profit jump on rising sales

Hong Kong-based retail and logistics conglomerate China Resources Enterprise said on Monday it is well placed to benefit from China’s rebounding economy, as it posted healthy profit growth on the strong performance of its beer and supermarket operations.

China Resources, which operates supermarkets and convenience and speciality stores in China, said its January-March profit rose to HKD3.73 billion (USD478.1 million), including a HKD3.01b (USD385.8m) gain from the disposal of its branded fashion distribution business, from HKD417m (USD53.4m) a year earlier. The result also included after-tax effects of the revaluation of investment properties.

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(Source: scmp.com)