Reitan Group, a leading Norwegian retailer,has reported an increase both in profits and sales for the first half of the year. The group reported sales growth of 15 per cent (including franchises), reaching NOK35.64 billion.
Pre-tax profits were NOK1.03 billion, up from NOK979 million in the same six-month period last year. A 17.3 per cent hike was recorded for profit from operations and EBITDA was NOK1.76 billion, an increase of 7.9 per cent.
Kristin Genton, group CFO said the company is "fully focused on the right things".
Rema 1000 and Reitan Convenience are among the group's retail banners. The group also holds a 15 per cent stake in Swedish group Axfood. (14 Sept)
© 2012 - ESM: European Supermarket
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