Chilean multi-format retailer Cencosud has posted a 22.2 per cent rise in net sales to 7.57trn pesos (US$15.7bn) for 2011, according to Planet Retail.
The increase was mostly due to double-digit sales growth across the company's five divisions, the analyst said.
Meanwhile, net profit fell by 2.6 per cent to 298.4bn pesos (US$620m), predominantly due to a rise in costs as a result of 'fewer funds, higher financial debt used to finance the growth of the company, and higher variable interest rates'.
The supermarket business saw sales grow by some 25 per cent compared with 2011, boosted by a sales rise in Brazil, the consolidation of the Bretas chain and double-digit like-for-like sales growth in Argentina.
