German retail giant Rewe today (28 May) posted a 22% leap in annual profits for 2007 on the back of record sales.

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The company booked pre-tax profit of EUR735.4m (US$1.2bn), a jump of 22.2% on the year. Sales reached EUR45.1bn, a rise of 3.7%.


CEO Alain Caparros said he was “cautiously optimistic” for Rewe’s prospects in 2008. “We are very satisfied that our tailwind in 2007 has been noticeable at the start of the new fiscal year,” Caparros said.


“The good, growth rates of our food trade in the first quarter reaffirm our confidence for 2008. Rewe is back on-track.”


Rewe said its international operations were the “clear growth driver” for the company, with turnover from its overseas businesses rising 9% to EUR13.5bn.

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