BRUSSELS Dec 13 Belgian supermarket group
Colruyt on Tuesday reported a higher-than-expected net
profit for its first half year as it was able to increase prices
and expanded its market share in market share in Belgium.
The group, which competes with Ahold Delhaize and
Carrefour as well as German discounters Aldi and Lidl,
said that while competition remained high, it was less fierce
than in previous years, allowing it to pass on higher prices.
Colruyt's market share in its Belgian home market grew by
0.19 percentage points to 31.8 percent in the first half.
Net profit rose 5.5 percent in the first half of its
financial year until March 31 to 192.5 million euros ($204.78
million), above the 188 million euros expected on average in a
Reuters poll of four analysts.
The group repeated it expected its net profit in the current
financial year to match or slightly exceed last year's of 366.3
"We expect the market to remain competitive during the
2016/17 financial year. We do not anticipate a significant
upturn in the economic climate nor in the consumer confidence in
Belgium and France in the short term," it said.
($1 = 0.9400 euros)
(Reporting by Robert-Jan Bartunek; editing by Philip