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China Resources Enterprise sees 55% surge in Q1 net profit

May. 17, 2012 (China Knowledge) - China Resources Enterprise Ltd<0291>, an investment arm of China Resources Group, said yesterday that its net profit jumped 55% YoY to HK$1.33 billion in the first quarter of this year.

Earnings per share were RMB 0.55 during the period.

Excluding gains from revaluations of investment properties, the company's overall earnings fell 15.15% YoY to HK$560 million.

Earnings from retail business rose 5.3% YoY, but the beer segment suffered a loss of HK$33 million, due to rising costs.

China Resources Enterprise saw its revenue jump 25% from the same period of last year to HK$33.35 billion in the first three months.

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