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Shanghai Yuyuan Tourist Mart forecasts profit gains in 2009

(Xinhua)
Updated: 2010-01-28 15:00
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Shanghai Yuyuan Tourist Mart Co, a major Chinese retailer, Thursday forecast a 50-percent growth in annual profits for last year.

In a brief statement filed to the Shanghai Stock Exchange, Shanghai Yuyuan Tourist Mart attributed the growth to its investment return in an increased stake in a Shandong-based mining company. But the statement did not specify how much the deal had contributed to its profits in 2009.

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The company said it maintained moderate growth in its major business last year despite the adverse impact of the global economic downturn.

The company said it would reveal the specific figures in its annual business report soon. But it did not specify the date.
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