Parkson Retail Group Ltd, a Beijing-based department store chain controlled by Malaysia's Lion Group, said its net profit rose 12% from RMB 412 million a year earlier to RMB 462 million in the first half of the year.

In the first six months of 2009, Parkson's total revenue grew 17% year on year to RMB 6.1 billion and its operating profit increased 14.1% to RMB 678 million, the company said in a statement filed with the Hong Kong Stock Exchange yesterday.

Revenue from direct sales of cargo and products went up 8% to RMB 651 million from RMB 602 million for the same period of last year. Commission revenue from sales at franchised outlets rose 13% to RMB 980 million from RMB 868 million a year earlier. Rent revenue increased 8.8% year on year to RMB 77.9 million compared with RMB 71.6 million in the same period of last year.

The company said that China's consumption market, unlike markets in developed countries, has not been hurt much by the global financial crisis.

Hong Kong-listed Parkson aims to expand its retail areas by 15% annually via merges and acquisitions and through the launch of new outlets, according to the statement.