Polish retailer Eurocash Group has reported a 28% jump in net profit to PLN 86 million (€1.8 million) in its financial year 2019.
The company’s EBITDA, excluding one-off events, amounted to PLN 415 million (€93.51 million), up 11% year-on-year.
The company’s revenue increased by 9% during the fiscal year to exceed PLN 24.8 billion (€5.59 billion).
Sales in the retailer's wholesale division were up 6% year-on-year to PLN 18.7 billion (€4.21 billion), while the retail segment recorded 19% growth amounting to more than PLN 5.9 billion (€1.33 billion).
Tobacco products, impulse buying, and a strong performance by its cash and carry segment contributed to sales growth in the wholesale division.
The company’s Duży Ben alcohol stores, abc grocery chain and Kontigo cosmetic salons doubled sales in 2019 to PLN 105 million (€23.66 million) from PLN 51 million (€11.49 million) in 2018.
The company, which is celebrating 25 years of operation in 2020, aims to ensure the continuity of food supplies given the coronavirus epidemic.
It said that it will cooperate with the GIS (Główny Inspektorat Sanitarny) and implement regulations set out by the chief sanitary inspector to ensure the quality of food items.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.