Dutch grocery wholesaler Schuitema, which is majority-owned by compatriot retailer Royal Ahold, has reported 2002 net profit of €39.3m (US$42.3m), up 9.5% year-on-year.
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Schuitema, which accounted for around 5% of Ahold’s total sales in 2002, said sales at its C1000 supermarkets rose 24% in 2002 to €3.49bn.
Operating earnings rose 6.3% to €59.6m after a €5.5m charge to finance its pension fund, reported Reuters.
