BEIJING, Mar 01, 2007 (SinoCast via COMTEX) --Chinese department store operator Parkson Retail Group Ltd. said on February that it earned CNY 460.8 million in 2006, leaping 85.8% compared to the previous years.

According to the company's 2006 financial report, its sales value totalled CNY 6.1687 billion, soaring 86.5% year on year.

Zhong Rongjun, managing director of the Hong Kong-listed company expressed that the company's shining sales growth should largely attributed to the rapid development of China's economy as well as the company's continuously changing marketing strategies.

He said the company has no intention to go public on the county's A-share market at present, however, it plans to open at least five outlets stores this year.

Merrill Lynch, one of the world's leading financial management and advisory companies, has raised the target price of Parkson's shares from the previous HKD 46.8 to the current HKD 58 due to its strong momentum.

From stocknews.com.cn, Page 1, Wednesday, February 28, 2007
 info@SinoCast.Com