China Resources Enterprise Announces Unaudited Review 3M of 2013
OREANDA-NEWS. China Resources Enterprise, Limited (HKEx: 00291) ('The Company', or together with its subsidiaries, 'The Group') today announced its unaudited financial and operational review for the three months ended 31 March 2013 ("the review period"). The Group reported unaudited consolidated turnover and profit attributable to the Company's shareholders of HKD 36,153 million and HKD 512 million, respectively, representing an increase of 8.4% and a decrease of 61.4% year-on-year. Excluding asset revaluation, the Group's unaudited underlying consolidated profit attributable to the Company's shareholders would have decreased by 8.6% for the review period.
Mr. Hong Jie, Chief Executive Officer of the Company, said, "In the first quarter of 2013, the easing inflation and the anti-extravagance campaign advocated by the central government aimed at reinforcing diligence and thrift affected consumption expenditures in China. Nevertheless, we further expanded our
businesses by extending coverage to new regions and enhancing the operational efficiency and resource allocation of our core businesses - retail, beer, food and beverage. These efforts have enabled the Group to achieve steady growth in turnover and to consolidate our market leading position in established sectors and regions."
The Group's retail division achieved turnover of HKD 25,923 million and attributable profit of HKD 525 million for the first quarter of 2013, representing year-on-year increases of 7.3% and decreases of 60.4%, respectively. Excluding the revaluation surplus, the division's attributable profit for the first quarter of 2013 would have decreased by 6.3% year-on-year. As at the end of March 2013, the Group operated more than 4,400 stores in
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