Colruyt has predicted that its net profit should rise by 4.6% in the year to the end of March 2010.
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Speaking at the company’s annual general meeting, Jef Colruyt, chairman of the Belgian discount supermarket, said that profits are expected to increase from EUR306m (US$450.3m) in fiscal 2008/9 to EUR320m in the current financial year.
In his annual address, Colruyt said that inflationary pressures, automatic indexing and the lack of some “specific skill profiles” on the labour market will weigh on the company’s cost structure this year.
In July, the group posted a 6.6% rise in first-quarter sales.
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