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Dia Posts 5.3% Profit Increase In Q2

Published on Jul 28 2015 7:17 AM in Retail tagged: Featured Post / Spain / Dia

Dia Posts 5.3% Profit Increase In Q2

Spanish retailer Dia has posted a 5.3-per-cent rise in underlying net profit to €102.5 million for the second quarter of the year, according to results filed on 28 July.

Like-for-like sales growth at the retailer reached 2.9 per cent in the period, with its emerging-markets portfolio seeing sales rise by 20.5 per cent.

The period saw Dia announce an agreement to purchase 100 per cent of the shares of El Arbol, a convenience chain in Spain, as well as an agreement with Carrefour over the acquisition of Carrefour France.

"These transactions are perfectly in line with our strategy of concentrating our efforts in a market where we can generate the best returns,” said chief executive Ricardo Currás. “Both transactions are pending the final approval of antitrust authorities, and in the case of El Arbol, it will reinforce our position as leaders in price and proximity in our most important market.”

© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.

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