Consumer China

Wumart reaps rewards for convenience

  • Published 14 May 2009

Continued roll out of convenience stores - viewed as China's highest growth retail segment - and savvy marketing campaigns are all helping position Wumart as a leading Chinese retailer.

Wumart (8277:HKG), a convenience and superstore operator, has been going from strength to strength. Positioned at the relatively defensive grocery end of the retail market, the company posted a 41.2% jump in consolidated gross profits in Q1 2009 to reach Rmb 573m ($83.7m, €61.5m, £55.4m), while net profit grew 25.5% to Rmb 129m.

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