For the three months ended March 31, Gome reported profit excluding non-operating losses increased 77 percent to 568 million yuan.

Foreign exchange losses amounted to 60.7 million yuan during the quarter, according to company president Chen Xiao.

Gome achieved 3.17 percent same- store sales volume growth in first- quarter 2008. Its aim is for full-year growth of 3 to 5 percent.

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Revenue rose 20.7 percent year- on-year to 12.17 billion yuan. Profit margin rose to 4.2 percent from 1.7 percent.

The home appliances retailer recorded 9.4 billion yuan in same-store sales volume during the period. Same- store sales in first- and second-tier cities increased 2.73 percent and 5.05 percent, respectively.

Gome plans 1.8 billion to 2 billion yuan capital expenditure for 2008, pending board meeting approval.

Chen said the firm will seek to increase market share, develop alliances in other sectors and enhance in-store efficiency. "We continue to strive to maintain high growth rates and boost profitability. We are confident that our efforts will be more apparent in the next three months," he said.