NorgesGruppen eats bigger pieces of the market.
The first half of 2014 shows a sales increase of 6,4 percent.
”Our chain labels are increasing their sales and Kiwi took big shares in a market with great competition”, says Friday’s statement.
The half year result for Norway Group shows growth in sales and EBITDA margin.
”There was good growth as the grocery market grew by approximately 5% in the first half of 2014. In the same period last year, there was negative inflation, giving low market growth. Norway group including grocery stores has a higher growth than the market and increased by 6.5% in the first half. Our chains increase sales and Kiwi are taking large market shares in a market characterized by fierce competition. Many discount stores are establishing and the chain groups contribute to increasing percentage through internal rebranding”, says Norgesgruppen.
For the group it is particularly encouraging that the grocery business is doing well in the competition. The battle for customers is perceived as hard, but the half-year results show that customers increasingly shop in Norway Group stores.
Revenue first half ended at 34,051 million NOK. Operating margin in the first half year was 4.0%, compared to 3.8% last year.
Profit before tax first half of 2014 is 1 159 million, compared to 1,103 million in the same period last year.