Colruyt sees net income rise

Belgium discounter Colruyt has revealed it enjoyed a strong fiscal 2011/12, with net income and revenues moving in the right direction.

For the full-year period, income grew 1.5 per cent on the 2010/11 fiscal year, up to €342.9m, while earnings before interest, taxation, depreciation and amortisation (EBITDA) jumped 9.7 per cent.

Revenue for the year increased by 7.8 per cent, driven by domestic sales as the group's French operations remained unprofitable.

During the opening three months of 2012, Colruyt noted that its market share in Belgium had grown to 25.45 per cent from 24.48 per cent at the end of 2010, as consumers search for lower-priced grocery items.