Chilean retailer D&S has reported a rise in quarterly net profit, helped by higher sales and gross income.

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D&S, Chile’s largest supermarket chain, said second-quarter net profit rose 4% to US$10.3m.

The retailer posted a 60.2% leap in operating profit to $20.9m, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 36.3% to $34.2m.

Total sales increased 7.7% to $351.2m and net revenues rose 8.3%. D&S said this was despite the difficult economic environment.

D&S, which has a 30% market share, said that by the end of June it had spent $19.3m of its $50m investment budget for 2003, mainly on new stores and improving existing outlets, reported Reuters.

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