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Carl Collen

BY CARL COLLEN

Colruyt reports positive FY results

The Belgian retailer has recorded better than expected results for the full year ended March 2008

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Colruyt, the Belgium-based retail group, has reported that full-year net profit for the period ended March 2008 hit €288.2m, an increase on the previous year's total of €262.6m. The result means that the group beat its original net profit forecast of €276m by €12.2m.

Overall group sales reached €5.67bn, up from €5.21bn the previous year.

In a statement, Colruyt said that it had achieved these positive results "thanks to its lowest price policy and this despite inflationary strains in the second semester".

The group's new financial targets will be announced on 17 September, during Colruyt's annual shareholder meeting.

 

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