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Friday, 26.04.2024, 01:08
Rimi Baltic retailer reports 1.5% turnover rise in H1
BC, Riga, 22.08.2017.
Print version
Print versionRimi Baltic retailer in the first six months of this year posted EUR 707.2 million in sales in the Baltic states, up 1.6% year-on-year, while sales in Latvia reached EUR 368.6 million or up 4.6% from the respective period last year, said Swedish concern ICA Gruppen, the owner of Rimi Baltic, in its report, cites LETA.
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Rimi Baltic also reported EUR 187.6 million in sales in Estonia, down 0.8%
year-on-year, and EUR 151 million in sales in Lithuania, down 2.4% from
January-June 2016.
The store sales data are given excluding value added tax (VAT).
The report says that the decrease in Lithuania is mainly due to higher
competition from newly opened
Lidl stores. Performance in Estonia is attributable to the ongoing
conversion of Saastumarket discount stores to Rimi.
Rimi Baltic Operating profit before interest, taxes, depreciation/amortisation
(EBITDA) in the first half of this year reached SEK 390 million (EUR 40.46
million) or by 3.17% more than in the respective period last year.
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