Australian supermarket group Foodland has reported a 54% rise in first-quarter sales to A$1.5bn (US$845m), meeting market expectations.
Foodland’s recent supermarket acquisitions in Australia and New Zealand from Hong Kong-based Dairy Farm are thought to have been behind the jump in sales. Foodland increased its number of supermarkets from 133 to 224 with the acquisitions, as well as expanding the company’s presence from Western Australia to the east coast and to New Zealand.
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