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GOME Electrical Appliances swings to loss in Jan-Sep

Nov. 20, 2012 (China Knowledge) - GOME Electrical Appliances Holding Ltd<0493>, one of the major home appliance retailers in China, had suffered RMB 687 million in net loss in the first nine months of this year, compared with a net profit of RMB 1.79 billion it realized in the corresponding period of 2011.

According to a statement filed with Hong Kong Stock Exchange, revenue for the nine-month period decreased 18.02% YoY to RMB 36.06 billion.

In the first nine months of 2012, the appliance retailer's gross margin was 15.88%, 2.97 percentage points lower than in the corresponding period of last year.

As of the end of Sep 30, 2012, the Hong Kong listed home appliance retailer had a total of 1,699 outlets.

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