TURKEY: BIM Reports Strong FY Results

BIM, the largest grocer in Turkey, has reported a strong rise in profit and sales for its last fiscal year, helping it reach a new sales milestone.

For the year ending 31 December 2016, net sales jumped up 15.2% to 20.07bn lira, the first time it has broken through the 20bn lira mark. Operating profit was up 11.1% to 797.6m lira, while net profit grew by 15.1% to 670.9m lira.

BIM added 767 new outlets during the year, ending 2016 with 6,167 stores in its network.