Coop Schweiz

Swiss retailer Coop has posted positive results in the face of the financial crisis, with a record yearly annual profit of CHF430m (€293m) in 2009, an increase of 10.3 per cent compared with the previous year.

According to a report by Bauernzeitung, the group's turnover remained stable at around CHF18.15bn (€12.4bn), despite a number of price reductions and staff cuts.

Earnings before interest and taxation (EBIT) increased by 6.9 per cent to CHF614m (€418.5m), the report said.

The group's market share stood at 17.2 per cent by the end of 2009, according to estimates by BAK Basel, an increase of 0.2 percentage points on 2008.