Gome reports revenue of $1.98 billion

Gome Electrical Appliances Holding Ltd, one of the largest privately owned electrical appliance retailers in China, had revenue of 12.3 billion yuan ($1.98 billion) in the first quarter this year, according to a financial statement released by the company.

The electrical appliance supplier saw its sales income fall by 20 percent in 2012 over the previous year and registered a total loss of 597 million yuan last year, the first annual loss in nearly a decade since it went public.

Gome has 1,081 outlets. It’s annual e-commerce business rocketed by 51.3 percent to 714 million yuan. Its gross profit rate, however, fell by 2.4 percent from 19.97 percent during the same period last year to 17.58 percent.