Polish retailer and wholesaler Eurocash has posted a PLN 36 million profit (€8.36 million) for the first half of its financial year, which is an improvement on the PLN 61.8 million (€14.35 million) loss it posted in the same period in 2017.
The group's sales were also up by 6.5%, to PLN 10.7 billion (€2.48 billion), from PLN 10.05 billion the previous year.
Wholesale Performance
The group said that a positive impact on the group's sales was seen in the Wholesale segment, which saw a 3.75% increase in sales in the second quarter of the year, and by 5.33% in the half-year period, to PLN 8.6 billion.
Overall, in its Wholesale operation, its cash & carry business saw a 2.06% increase in sales, tobacco rose by 5.09%, distribution was up by 10.05% and foodservice was up by 12.2%. Its wholesale alcohol business saw a marginal decline, however, of 0.82%.
Retail Business
In its Retail arm, which saw a 7.44% increase in sales to PLN 1.7 billion, saw sales gains at its Delikatesy Centrum and Delikatesy Centrum Własne businesses, which were up 0.42% and 6.66% respectively. Its Inmedio business was up 4.61%, while its EKO operation saw a 7.58% decrease in sales, mainly due to renovation work.
Mila, the retailer it purchased from Cyprus-based Domelius Limited earlier this year, has posted sales of PLN 120.4 million since coming under the ownership of Eurocash.
'Sales of goods realised by [the] Retail segment in 2Q 2018 amounted to PLN 953.89 m and increased by 11.55% YoY,' the company said in a statement. 'In 1H 2018, sales amounted to PLN 1 771.29 m and increased by 7.44% YoY. The impact on the growth of the retail segment was caused by the consolidation of the acquired Mila
chain of stores.'
© 2018 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.
