Published 05 March 2012
China-based hypermarkets operator Sun Art Retail Group has posted a 21.2% growth in annual turnover to RMB68,084m ($10.81bn) in 2011, compared to RMB56,168m ($8.91bn) in the previous year.
Profit for the year ended 31 December 2011 surged 23% to RMB1,985m ($315.20m), compared to RMB1,614m ($256.28m) in the corresponding period last year.
During 2011, the group opened 46 hypermarket complexes, of which 42 were under RT-Mart banner and four were under the Auchan banner.
In addition, Sun Art Retail said it purchased four properties of previous leasing and contracted stores under the RT-Mart banner.
Sun Art Retail Group chief executive officer Bruno Robert Mercier said 2011 marked the group's successful Hong Kong IPO.
"Our leading position in the hypermarket industry continued to improve as our market share increased 0.8 points to 12.8% from 2010, according to Euromonitor's 'Grocery Retailers in China' report," Mercier said.
"To achieve this lead, the Group expanded its stores steadily and proactively sought potential opportunities to open new stores."
As of 31 December 2011, Sun Art Retail operated 230 hypermarket complexes across 24 out of 31 provinces, autonomous regions and municipalities in China.
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