Grupo IFA Posts 5% Increase In Turnover For 2016
Spanish retail company Grupo IFA has posted a consolidated turnover of €15.49 billion for 2016, which represents an increase of 5.1% compared to the previous year.
The group says that it is now Spain's market leader in the distribution, retail, and wholesale channels, achieving market share in these areas of 15.1%, 17.6%, and 33.3% respectively.
At the general shareholders meeting, Grupo IFA's CEO Juan Manuel Morales said that the company is committed to creating new jobs. The group provides employment to 95,000 people, and created over 1,800 jobs last year.
Morales also said that the inclusion of Portuguese retail company Sonae MC as an affiliate member has been 'crucial' for the latest financial results.
In order to encourage further growth, the company has launched its 'strategic plan 2020' to strengthen the relationship between the group and the largest possible number of brands and manufacturers.
Grupo IFA is comprised of 34 affiliate members and almost 200 affiliated companies, with 6,784 points of sale across Spain and Portugal. This includes Ahorramás, Bon Preu, Dinosol Supermercados, and Sonae MC.
© 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.