BRAZIL: Retail giant CBD food FY profits jump
CBD enjoyed higher food sales in 2012
CBD, Brazil's number one retailer, has reported a jump in earnings from its food stores on the back of higher sales.
The retailer, also known by its trading name of Grupo Pao de Acucar, booked net income of BRL834m from its grocery business for 2012, up 35.5% on 2011. Lower finance costs also helped the company's bottom line.
CBD posted a 9.8% increase in net sales from the division, which includes Pao de Acucar supermarkets and Extra hypermarkets, to BRL28.08bn. On a gross basis, same-store sales were up 6.5%.
Click here for the full release.
- M&A Watch: Raisio should sell to private equity
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- On the money: Hain expects continued organic gains
- Spotlight: What could be impact of Russia's ban?
- Russian government eases ban on food imports
- Pork Farms buys Kerry Group's pastry plants
- Kerry cools claim spreads move could hit jobs
- Dr Oetker to buy McCain North America pizza arm
- Nestle makes "major pledge" on animal welfare