Migros has announced that group turnover hit record levels for the full-year of 2008, up 13.5 per cent to CHF25.8bn (€16.3bn), while profit fell 12.5 per cent on 2007 to CH701m (€442m) – although this still represented its third-highest profit level ever.
The increase in turnover is attributed in the main to an improvement in retail sales, which grew 16.3 per cent to CHF21.6bn (€13.6bn).
Earnings before interest, taxation, depreciation and amortisation rose 6.7 per cent during the 12-month period to hit CHF70m (€44m).
Domestic market share jumped 2.2 per cent during the year to 20.5 per cent, boosted by its Denner operation's sales growth of 8.3 per cent.
For its 2009 outlook, Migros forecast growth of 2 per cent, with a particular focusing in expanding its online and convenience operations.
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