Supermarket group Dansk Supermarked posted a rise in income for the first half of 2010 due to an increase in consumption, with the largest growth in Sweden and Poland.
The retailer, owned by Danish conglomerate A.P. Moller-Maersk, booked DKK912m (US$157.8m) net income for the first half of 2010, up 9.6% on the same half of 2009. Revenue reached DKK28.49bn, up 3.1% on the same period of the previous year, positively affected by the development of the Swedish krona and British pound.
The company said in its Danish home market, revenue in its Føtex banner increased “satisfactorily”, while both Bilka and Netto experienced more modest grwoth.
However, its non-Danish markets showed substantial growth for Netto Sweden and Netto Poland, while there was more modest growth for Netto Germany and a modest decline in its UK operations.
The company added that it expects to complete the sale of its UK division to Asda in November 2010, once it gets approval from UK competition authorities.