DIA Group posts an underlying net profit of EUR40m in the first quarter of 2014
Gross sales under banner for the DIA Group rose by 9.5% in local currency
Spain generated sales growth of 1.4%
In Brazil, Argentina and China, sales increased by 27.3% in local currency
The management of the company has already initiated a programme to sell the full activity in France
DIA Group reached gross sales under banner of EUR2,135.5bn, 9.5% more in local currency than in the first quarter of 2013. Brazil, Argentina and China continued their extraordinary performance, with sales growth of 27.3%.
Spain also continues to contribute to the company’s good performance, with gross sales under banner up by 1.4% to EUR1,222.3bn. As of 31 March 2014, there were 188 Clarel stores, of which 114 corresponded to transformations (96) and openings (18) in that period. “The first quarter of 2014 has been very promising for DIA amid a deflationary and challenging scenario. We continue to gain market share in Spain and grow above the market, improving our competitiveness and increasing profitability in parallel with strict cost control. The rollout of Clarel is absolutely in line with our plan and expectations, both in terms of the number of stores transformed from Schlecker to Clarel and in terms of customer response, with very satisfactory sales growth. Promising sales growth and encouraging results in the first quarter of 2014 make me feel confident in our ability to achieve our goals for this year”, declared Ricardo Currás, CEO of DIA Group.
Underlying net profit reached EUR40.1m, 9.7% more than in the first quarter of 2013, with adjusted EBIT growth of 5.7% to EUR64.6m.
At the end of the first quarter, DIA Group had 6,487 stores with 24 net openings between January and March 2014. DIA reiterates it double-digit growth target for EPS adjusted in local currency for the 2012-2015 period.
