China's GOME shares set to open up 11.7 percent after earnings beat forecast

HONG KONG Thu Mar 20, 2014 9:31pm EDT

A man walks past a GOME store in Shanghai August 26, 2013. REUTERS/Aly Song

A man walks past a GOME store in Shanghai August 26, 2013.

Credit: Reuters/Aly Song

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HONG KONG (Reuters) - Shares in China's GOME Electrical Appliances Holding Ltd (0493.HK), which is backed by private equity firm Bain Capital, were set to open up 11.7 percent on Friday after it reported a better-than-expected profit for 2013.

The company posted an 892 million yuan ($143.95 million) profit in 2013, after cost controls, a wider range of products and an online push helped it return to the black from its first yearly loss in 2012.

The stock was set to open at HK$1.34, outpacing a 0.3 percent rise in the benchmark Hang Seng index .HSI.

(Reporting By Yimou Lee; Editing by Paul Tait)

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