Portuguese retailer Auchan Portugal, a unit of French retailer Auchan, has reported a 42% year-on-year rise in annual profit before interest and tax to €29.9m (US$35.4m) for 2002.

Auchan Portugal’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose 7% to €65.9m, on sales up 6.1% to €970m.

The company invested €31.6m in 2002, mainly in the construction of retail centres in Gondomar, northern Portugal and Amadora, near Lisbon, reported the Portuguese News Digest.

The retailer’s French parent, Auchan, posted a profit of €292m for 2002, down 11.6% from the previous year.