Chinese hypermarket chain Sun Art H1 profit up 14.8 pct
HONG KONG Aug 14 (Reuters) - China's biggest hypermarket chain Sun Art Retail Group Ltd posted an 14.8 percent increase in first-half net profit as an increase in the number of its stores helped it shrug off an economic slowdown.
Sun Art, a joint venture between Taiwan conglomerate Ruentex Group and privately held French retailer Groupe Auchan SA , said on Wednesday its first-half net profit was 1.576 billion yuan ($257.44 million) for six months ended in June, up from 1.373 billion yuan a year earlier.
The result was in line with an average forecast of 1.57 billion yuan by three analysts polled by Thomson Reuters.
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($1 = 6.1217 Chinese yuan) (Reporting by Donny Kwok; Editing by Miral Fahmy and Louise Heavens)