China retail

China-based retailer Lianhua Supermarket Holdings Company Ltd. has reported a 16 per cent rise in revenue to Y24.02bn (US$3.51bn) for 2009.

Operating profit rose by 46 per cent to Y648m (US$94.86m), while net income climbed 30.7 per cent to Y507m (US$74.22m).

Lianhua's basic earning per share was Y0.81, gross profit rose by 11.8 per cent and consolidated revenue increased by 15.2 per cent, International Supermarket News reported.

In 2009, the company added 558 outlets, with 11 hypermarkets, 3 supermarkets converted into hypermarkets, 314 supermarkets and 230 convenience stores, for a total number of 4030 outlets.

Lianhua acquired Chinese chain Hualian Supermarkets, helping increase its reach in Shanghai and the Yangtze River Delta region.

'Noticeable progress was seen in healthy market expansion, outlet layout optimisation, merchandise mix improvement and internal management enhancement in 2009,' said chairman of Lianhua Supermarkets Ma Xinsheng.