Spar Hungary, a subsidiary of retailer Austria Spar International, has reportedly targeted turnover of 140bn forints (US$631.8m) for 2003.

For 2002, Spar Hungary reported turnover of 115.3bn forints, a 9.3% increase compared to 2001.

The retailer plans to open ten supermarkets in Hungary this year, investing a total of 6-8bn forints. In 2004, the company plans to open three Interspar hypermarkets, reported Interfax.

At the end of 2002, Spar operated 118 supermarkets and 16 hypermarkets in Hungary, employing over 5,200 people.