Italian retail group Gruppo Pam has posted consolidated earnings before interest and tax (EBIT) of €49.8m (US$56.9m) for 2002, an increase of 57% year-on-year.

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Gruppo Pam, which operates around 420 supermarkets, hypermarkets, discount centres and franchise stores, reported consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of €108.2m, a rise of 22%.

The group posted a consolidated turnover of €2.24bn, an increase of 2.0% compared to the previous year, reported the Italian News Digest.

Gruppo Pam’s supermarket division, Supermercati Pam, posted EBIT of €20.7m, up 13%, on turnover exceeding €1.0bn.

The group’s hypermarket division, Panorama, reported EBIT of €15.4m, an increase of 124%, on turnover of €705m.

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