Wumart to grow chain with big hypermarket plan

Wumart, the biggest grocer in Beijing, plans aggressive expansion after posting 55 per cent first-half profit growth to Y48.87 million (£3.2 million).

Sales at Wumart, which runs 25 supermarkets, 146 con-venience stores and four hypermarkets in and around Beijing, rose to Y1.23 billion (£80.8 million).

The retailer announced plans for its biggest hypermarket yet - to be converted from a 107,640 sq ft (10,000 sq m) shopping centre - on the outskirts of the capital as part of the expansion.

The store will increase Wumart's hypermarket retailing space by more than a quarter. Wumart was listed on Hong Kong's Growth Enterprise Market exchange in November last year, as it sought funding to fend off increasing competition from foreign retailers.