In Spain, Carrefour-owned retail group Dia has reported a fall in net profit of 9.3 per cent to €108.1m in its 2007 full-year results, with operating profit jumping 18.6 per cent to €122m.

The group said that the fall in overall net profit was due to the acquisition of Tengelmann's Spanish Plus discount stores.

Dia's net sales in Spain grew 3.8 per cent to €3.7bn during 2007, with gross sales in the country totalling €4.02bn. Worldwide gross sales for the year-long period increased by 7.9 per cent to €9.5bn.

Group investments amounted to €396m, of which €168m was used in the Plus purchase.

The retailer also revealed in a statement that the target for 2008 is to roll out its new convenience concept, Dia Market, with 191 stores set to open by the end of the year.

Topics