Dutch retailer Sperwer Group, owner of the Plus chain in the country, has posted a 21% fall in net profit for 2009.
Sperwer booked net profit of EUR12.1m. Excluding one-off costs, net profit fell 5.5%. The drop in profits came on the back of higher operating costs.
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However, turnover rose 2.7% to EUR1.91bn. Stripping out the effect of an extra week’s sales in 2009, turnover inched up 0.4%.
“The sales increase was negatively impacted by the closure of a number of unprofitable stores in 2008 and 2009,” Sperwer said. By the end of 2009, Sperwer had 268 stores in the Netherlands.
