Lianhua Supermarket (00980) said its operating revenue for the nine months ended 30 September 2014 amounted to Rmb24,168 million, a decrease of 4% from a year earlier.
Net profits attributable to shareholders dropped 72% year-on-year to Rmb51.16 million.
Resulting from the fierce competition in the retail market which the Group is engaged in as well as rigid increase in costs, labor cost in particular, it is anticipated that the net profits attributable to shareholders for the financial year ending 31 December 2014 shall assume the year-on-year decreasing trend as that for the nine months ended 30 September 2014.
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