Source:
https://scmp.com/business/companies/article/1286079/gome-expects-interim-profit-back-strong-q2Companies
GOME expects interim profit on back of strong Q2
GOME expects to be back in the black soon. Photo: SCMP
GOME Electrial Appliances , backed by private equity firm Bain Capital, said on Friday profitability has significantly improved and it expects to swing into profit in the first half of the year from losses a year ago.
The company said in a filing to the Hong Kong exchange that this was largely due to increased sales and its joint venture partner shouldering 40 per cent of the losses incurred by its e-commerce business.