Thailand’s second largest hypermarket chain, Big C Supercenter, has reported a 47% year-on-year rise in third-quarter net profits.

Big C reported net profit of 272m baht (US$6.3m) for the third quarter, an as-expected decrease from 337m baht in the second quarter due to recent floods and increased competition.

The company saw a massive year-on-year rise in profits due to a boom in consumer demand, but is facing increasing competition from both local and foreign rivals.

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By GlobalData