Gome expects better full-year profit

Gome Electrical Appliances Holdings Ltd yesterday said it expects to come in with better full year numbers and open more outlets next year, as the electronics retailer continued to benefit from its store restructuring plan and various other cost control measures.

Speaking to newsmen Chen Xiao, president of Gome, said revenue during the third quarter of the year rose 2.85 percent to 10.97 billion yuan compared with 10.66 billion yuan in the previous quarter. Net profit for the period was 385 million yuan.

The company said revenue for the nine months ending Sept 30 rose 13.64 percent to 31.43 billion yuan over the same period last year. Net profit, however, fell in the nine months by 39 percent to 965 million yuan from a year ago.