Turkish retailer Migros Ticaret said it delivered a “solid” performance in 2012, emphasising that it remains focused on growing its core supermarket business.
In the 12 months to the end of December, Migros booked an 8% increase in consolidated EBITDA to TRY430m (US$239m) with a margin of 6.6%, which the retailer said was “ahead of target”.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Net sales climbed 12.7% to TRY6.48bn, while international operations delivered revenues of TRY396m, an increase of 12.3% on last year.
Migros said it continued to successfully implement its new store opening strategy last year, opening 137 stores, bringing the total number to 882 comprising: 159 supermarkets, two hypermarkets and five Ramstores outlets.
