Higher turnover but lower profits for Sligro

Higher turnover but lower profits for Sligro

Dutch Sligro Food Group has had a mixed first half of the year, as turnover rose 11 % to 1,1 billion euro but net profit went down slightly from 26 million to 25 million euro.

 

Higher costs

The higher turnover was driven by Sligro's acquisition of Heineken's wholesale activities, and the company hopes it will reap the rewards from integrating these activities into its own structure soon. Acquisitions were also the cause of the lower profits, as was the preparation for the opening of Sligro in Antwerp (Belgium). Excluded from the figures are supermarket chain Emté, which was sold on 2 July. From January till June the chain doubled its net profits to 4 million euro. 

 

For the full year, the company estimates profits of around 55 million euro, in a market where "yearly growth will be around 2.5 and 3.5 %".