Netherlands-based retailer Super de Boer has reported strong results for the first-half of 2008, with net profit doubling to €6m from €3m the previous year.
The group's revenue fell to €776m from €924m during the 24 week period, attributed to the sale of 44 stores last year, with operating result (excluding special items) jumping to €8m from a loss of €1m in the first half of 2007.
'We are satisfied with this profit development,” said the group’s chief executive officer Jan Brouwer. “Super de Boer is moving in the right direction and we are maintaining the course we have set.'
Mr Brouwer added that the group would further strengthen its position in 2008 by modernising and extending around 40 stores, intensifying local marketing, rolling out a new format draft, expanding the Super de Boer house brand and improving store quality by running various programmes and training courses.
'Super de Boer is maintaining its previous expectations,' said Mr Brouwer, talking about the outlook for the rest of the year. 'Super de Boer expects consumer sales exceeding €2bn in 2008 with sustained growth in like-for-like sales – this will offset the loss of revenue resulting from the disposal of 44 stores in 2007.'
