German retail giant Rewe (22 March) booked a 2.7% rise in turnover to EUR50.9bn (US$68.9bn) thanks to organic growth and expansion at home and abroad.

The company said revenues from its “core” business – excluding independent retailers – grew faster, increasing 4.8% to EUR37.4bn.

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In Germany, sales climbed 2.6% to EUR34.6bn; overseas revenues were up 2.9% at EUR16.3bn.

“The healthy overall development of the core companies as well as the group as a whole is mainly due to our organic growth and carefully considered acquisitions in Germany and abroad – along with investments totalling around EUR1.4bn,” said CEO Alain Caparros.

“We are very satisfied with developments. Rewe Group’s earnings (EBITA) are expected to exceed the previous year’s record figures of EUR708m.”

Rewe will publish its full financial figures in June.

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