Sun Art Retail Group (HK:6808) has released an update.
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Sun Art Retail Group Limited reported a significant turnaround in its interim results for the six months ending September 2024, with profit from operations skyrocketing by over 3,000% to RMB 621 million and a net profit of RMB 186 million, compared to a loss in the previous year. Despite a slight decline in revenue and gross profit, the company’s financial health remains stable with total assets increasing by 2.1%. This impressive operational recovery signals a promising shift for investors tracking the retail sector.
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