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China's Sun Art Retail Group Ltd said its net profit in 2016 rose 5.2 percent, exceeding market expectations, as solid demand from lower-tier cities helped offset increasing pressure from the country's rapidly growing e-commerce sector.
The hypermarket operator reported a 2.6 billion yuan ($379 million) net profit on year ended December, versus the 2.4 billion yuan it posted in the previous year.
That compared with an average forecast of 2.5 billion yuan from 16 analysts polled by Reuters.
