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.
- Campbell Soup Co.'s M&A plans should avoid fresh
- Mead Johnson wrestles "irrational" Chinese market
- On the money: Unilever aims to get food growing
- 10 things to learn: Campbell's plans for growth
- Briefing: How is gluten-free faring in Europe?
- Hain Celestial buys plant-based food firm Mona
- Post, TreeHouse "in talks over ConAgra own-label"
- Lactalis surpasses Danone on dairy league table
- Nestle replaces India MD after Maggi scandal
- Greencore sales up on UK, US growth