Ahold’s Swedish subsidiary ICA has today (18 January) announced a rise in full-year net sales.
The retail group’s net sales for 2011 increased 1.4% on 2010 to SEK95bn (US$13.8bn). At constant exchange rates, sales grew 2.6%.
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In the fourth quarter, sales hit SEK25bn, a 1.7% rise on the same period the year before. At constant exchange rates, net sales increased by 1.4% in the quarter.
In November ICA posted a net loss of SEK2m (US$300,000) for the three months ended 30 September, a sharp drop compared to a net income of SEK644m in the same period last year.
The group will release its full-year financial results on 15 February.
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