Chilean retailer Falabella has announced that it recorded a huge leap in profit during 2010, up to US$883m, a year-on-year increase of 69.1 per cent.
The group saw revenues for the 12-month period climb 16.5 per cent when compared with 2009, up to US$9.47bn, Reuters reported.
For the fourth quarter of fiscal 2010, Falabella saw net profit hit US$361m, boosted by higher revenue and gains from the sale of its stake in pharmacy.
Revenue for the final quarter of the year rose 19.4 per cent to US$2.8bn, the group noted.
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