Dutch supermarket and wholesale group Laurus has posted a 2002 net loss of €128m (US$141.2m), compared with a net loss of €442m in 2001.
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The company achieved an operating profit of €31m in 2002, compared with a loss of €58m in 2001.
Laurus, whose key shareholder is French retailer Casino, forecast a further improvement in operating profit in 2003, but said it was expecting only minor growth in like-for-like sales in 2003.
Earlier this year Laurus posted 2002 sales of €5.5bn, down 14.8% year-on-year.
Casino, which last year rescued Laurus by purchasing a 38.7% stake in the company, has an option to take full control with a 51% stake until the end of 2008.
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