German retail group Edeka revealed that its core sales rose 4.4% to EUR30.5bn during fiscal 2007, driven by double digit growth at its discount operations.
EBIT increased to EUR1.17bn, up 7%.
“We have significantly expanded our core businesses,” Alfons Frenk, Edeka chairman, told journalists in Hamburg today (30 April). “The year 2007 was the most successful year in the group’s100-year corporate history,” Frenk added.
Revenues increased by EUR1.3bn, or 4.4%, to a total of EUR30.5bn.
The total turnover of the group rose by 1.8% to EUR37.8bn.
“We are very pleased with our performance and expect continued growth of the discount sector,” a spokesperson for the company told just-food.
The company said that it intended to open an additional 1,000 outlets in Germany by 2010. During 2007, Edeka opened 350 outlets with a combined selling space of 400,000 square feet.