Profits jumped at German retail giant Rewe in 2012 as the company increased its sales at home and abroad.

EBITA rose to EUR501.2m (US$650.5m), up from EUR369.5m a year earlier, the retailer said today (14 March).

Sales were up 2.7% at EUR49.7bn, with revenue in Germany growing by 2.4%. Turnover from Rewe’s businesses outside Germany rose 3.6%.

“We have exceeded our growth targets,” Rewe CEO Alain Caparros said.