Shares in Belgium-based retailer Colruyt jumped today (26 June) after the company booked higher full-year earnings.
Colruyt reported a 3.1% increase in net profit to EUR353.7m (US$459.8m) for the 12 months to the end of March. Operating profit grew 6.2% to EUR515.1m. EBIT margins of 6.2% were in line with last year, Colruyt, which filed its results after the market closed yesterday, said.
Go deeper with GlobalData
Revenue was up 5.9% at EUR8.31bn. Colruyt said its strategy of “lowest prices” and “additional discount actions” throughout the year meant its retail business was able to increase its market share in a “highly competitive environment”.
Colruyt, which had 388 stores in Belgium, Luxembourg and France by the end of the financial year, saw its shares end today up 8.03% at EUR40.08.
Click here for the full statement.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
