Profits rise for retailer Gome

Electronics retailer Gome Electrical Appliance Holding Ltd said on Monday that its net profit surged to 693 million yuan ($112.5 million) during the first six months of the year on the back of a 53.7 percent growth in its e-commerce revenue.

Gome said its revenue grew by 7.41 percent in the first half to 29.12 billion yuan. Profit attributable to owners of the parent company soared 115.22 percent to 693 million yuan from 322 million yuan in the same period last year.

Gome said in a report issued to the Hong Kong Stock Exchange that its gross profit margin was 18.83 percent in the first half, representing an annual increase of 0.49 percentage point. Net profit margin was 2.38 percent, 1.19 percentage points higher than the previous year.