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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
