Springland International Holdings (01700) expects its profit after tax for the six months ended 30 June 2016 will decrease by 29% to 34% as compared to that of the corresponding period in 2015.
It attributed the decrease to same store sales for first half of 2016 for both department store and supermarket business dropped by 9% as a result of the continuing weak consumer sentiment and fierce competition in PRC and an one-off expense of RMB36 million on the closing down of the group's Nanjing Yaohan Store.
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