Retail

Eurocash: VAT Fraud Investigation 'Impacted Full-Year Profitability' At Group

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The president of Polish retailer Eurocash, Luis Amaral, has said that the VAT fraud scandal that impacted the business last year affected its full-year profitability.

In a letter to shareholders, published as part of the group's annual report, Amaral said that the group's performance last year "was influenced by the write-off caused by our allowing criminals to rob our company.

"As soon as the first signals appeared, we conducted an internal investigation with the help of the best and most reputable advisors."

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