Turkish retailer Migros Ticaret said it delivered a “solid” performance in 2012, emphasising that it remains focused on growing its core supermarket business.
In the 12 months to the end of December, Migros booked an 8% increase in consolidated EBITDA to TRY430m (US$239m) with a margin of 6.6%, which the retailer said was “ahead of target”.
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Net sales climbed 12.7% to TRY6.48bn, while international operations delivered revenues of TRY396m, an increase of 12.3% on last year.
Migros said it continued to successfully implement its new store opening strategy last year, opening 137 stores, bringing the total number to 882 comprising: 159 supermarkets, two hypermarkets and five Ramstores outlets.
