Brazilian grocery retailer Companhia Brasileira de Distribuicao (CBD) has reported a 20% rise in fourth-quarter net sales to BRL3.59bn (US$1.3bn).

CBD, which is popularly known by the name of its flagship supermarket chain Pao de Acucar, said full-year 2004 sales were BRL12.6bn, an increase of 16.3% from the previous year, reported Reuters. Same-store sales were 5.1% higher than the year before.

"The principal highlights were the business units of Extra and CompreBem that showed double digit growth in the (fourth-quarter) period," the retailer was quoted by Reuters as saying.