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Retail

Dutch Retailer Plus Sees Turnover Rise, Profits Decrease

By Steve Wynne-Jones
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Dutch Retailer Plus Sees Turnover Rise, Profits Decrease

Dutch retailer Plus has posted a 3.8% increase in turnover in full-year 2019, to €2.478 billion.

However, net profit at the group fell by 21.4%, to €8.1 million, the business reported.

Operating profits were down 20.2%, due to a one-off cost of €18 million on an automation product. Without this expense, operating profits rose by 16.2%.

'A Good Year'

Plus has had a good year on many fronts,” said Duncan Hoy, the group’s chief executive.

“Sales, the clientele, and operational EBITDA increased. This strong basis offers an excellent perspective for 2019,” added Hoy.

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The group reported that the implementation of a number of strategic programmes ‘contributed significantly’ to its growth, including the conversion of stores to the Briljant format, and the implementation of an e-commerce programme.

In 2018, Plus opened three new outlets, in Kesteren, Leek and Rolde, as well as refurbishing 11 outlets.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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