CHILE: D&S posts 27.7% rise in Q1 net profit
Chile's largest supermarket chain D&S has reported a 27.7% rise in first-quarter net profit as new stores boosted sales.
The company posted net earnings of 9.43bn pesos (US$13.5m) for the first quarter, compared to 7.39bn pesos in the year-ago period.
The retailer’s operating profit was 14.90bn pesos, an 18.5% rise compared to the first quarter of 2002. Same-store sales fell 4.5% while total sales rose 8.6% to $322m.
D&S officials said the company’s financial standing had not been affected by a debt dispute with Dutch retail giant Royal Ahold.
"The discrepancy we have with the Ahold chain over the unpaid debt it holds with D&S for the sale of the Ekono stores in Argentina, has not affected the financial situation of the company," financial manager Miguel Nunez was quoted as saying by Reuters.
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Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
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