BELGIUM: Colruyt Reports Strong FY Growth

Colruyt has reported strong growth in sales for its last fiscal year, adding that it had also gained market share.

For the full year, sales were up 2.9% to €9.18bn, with its Retail division recording growth of 4.0% to €7.1bn.   The group noted that its domestic market share was up 50bps to 31.5%.

The Colruyt banner recorded a 2.8% rise in sales across Belgium and Luxembourg, and a 9% increase across France, helped by volume growth and its store revamp programme. Sales at the OKay, Bio-Planet and Cru banners were up more than 13%, boosted by increased shopper numbers and online demand.

Colruyt said growth came despite price pressure and strong competition.  It added that difficult market conditions in Belgium and France are likely to continue for the short term.

Meanwhile, its Wholesale and Foodservice unit recorded revenue growth of 3.0% to €1.6bn – Wholesale revenues were up 2%, and Foodservice revenues were up by 4.0%.