Denmark's Dansk Supermarked Group, which operates the Netto chain, has posted revenue growth of 0.7% in 2016, recording a total of DKK 57.9 billion for the period.
Total profit for the year was impacted negatively by higher depreciations and the closure of Netto UK, but the group maintained its position as the strongest Danish retailer financially.
"Our continued strong performance enables us to invest in future growth through the launch of new, innovative initiatives that improve the everyday lives of our customers. At the same time, we have ensured that we maintain fiercely competitive," said Per Bank, CEO of Dansk Supermarked.
"In the coming years, we will strengthen our position in Denmark through improved utilisation of digital opportunities and continued investment in our physical stores. In addition, we will increase the pace of expansion in Sweden and Poland, where we continue to see great opportunities for Netto."
Dansk Supermarked invested heavily in digitisation in 2016, and the company aims to increase its e-commerce initiatives with the upcoming launch of the wupti.com marketplace, the introduction of click-and-collect online grocery services in Bilka, and the subscription scheme ØKO+.
"Our financial strength makes it possible to further digitise the company, while we continue to develop our product range at lower prices to the benefit of our customers," said Bank.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.