Belgian discounter Colruyt forecast full-year net profit growth of 5.2% yesterday (17 September) after revealing that store turnover during the first five months rose 12.3% to EUR1.73bn (US$2.5bn).
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Addressing shareholders at the company’s general assembly chairman Jef Colruyt said the group was “again in a position to forecast attractive growth”.
Colruyt said that net profit in the year to the end of March 2009 was expected to total EUR304m, up from EUR288.2m reported during the previous fiscal year.
Colruyt said that revenue gains during the first five months of the year could be attributed to the success of the “Extra Discount” card as consumers looked to make savings during a period of high inflation in Belgium.
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