GERMANY: Rewe claims "record" 2008 earnings
Rewe Group, the Germany-based retail giant, today (9 June) claimed "record" annual profits after seeing sales jumped by more than 10%.
The company booked a record EBITA of EUR708m (US$989.9m) for 2008. Revenues climbed 10.5% to EUR49.8bn with sales in Germany up 7.4% to EUR33.9bn.
The retailer's international operations reported turnover of EUR15.9bn - up 17.9%.
CEO Alain Caparros said: "In the past year, we have continued on our successful course of profitable growth. We have the potential, even in 2009's difficult macroeconomic environment, to grow profitably. And we will seize this opportunity."
Sales from Rewe's supermarkets, hypermarkets and drug stores were up 15.3% to EUR8.5bn. Turnover from Rewe's Penny discount business - which operates in six countries - climbed 11% to EUR9.5bn.
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