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The group`s net profit for the first six months of 2014 was 4.8 million euros, which is twice as large as the profit of the same period in the previous year, when the profit was 2.4 million euros. The net profit improved due to a tax efficient dividend payment, on which an income tax in the amount of 1.3 million euros was paid in the first quarter of 2014, whereas a sum of 3.8 million euros was paid as income tax in the previous year, the company said.

The consolidated unaudited sales revenue of Tallinna Kaubamaja Group was 136.7 million euros in the second quarter of 2014, exceeding the previous year’s sales revenue by 10.5%. The sales revenue was 256.4 million euros in the first half-year, showing a growth of 8.7% compared to the first half-year of 2013 when the sales revenue was 235.8 million euros. The reasons behind the strong growth in the sales revenue are new Selver stores opened in 2013, a marketing campaign postponed to the second quarter, and national holidays, as well as improved assortment and successful marketing campaigns.

Tallinna Kaubamaja posted 17.5 million euros profit last year.

The group includes the Selver supermarket chain, Tallinn and Tartu department stores, I.L.U. cosmetics stores chain, a car dealership business, footwear stores chain Shu etc.