Dansk Supermarked Group, the retail arm of Danish oil and container shipping conglomerate A.P. Moller-Maersk, has seen a modest rise in sales and earnings for fiscal 2010.
Moller-Maersk’s annual report revealed that the group’s retail business saw revenues rise to DKK59.2bn (US$20.5bn) during the 12 months to the end of December, up from DKK57.2bn booked for 2009. Profits at the unit also edged up, the conglomerate revealed, rising to DKK2.2bn from DKK2.1bn last year.
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“The result for retail activity was above 2009 with increase in revenue in both the Danish and non-Danish markets,” the firm said. “Dansk Supermarked’s sale of its activities in Great Britain (Netto Foodstores Limited) is progressing as planned and is expected to be completed at the end of the first half year 2011.”
Dansk entered into an agreement to sell its Netto chain to Asda, the UK arm of Wal-Mart Stores, in May last year for GBP778m (US$1.13bn) .
Dansk expects a result “at the level of 2010” in 2011, excluding the expected gain from the sale of Netto in the UK, the company said.
To access the annual report in full click here.
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