Norgesgruppen’s growth increase: 5.7 %

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Norgesgruppen increase its markets shares, first half of 2015 reports a revenue increase of 5.7 percent and a stores sales increase of 4.1 percent.

The larger part of the increase is related to organic growth.

The half year result for Norgesgruppen ASA showed an increase in revenues of 5.7 percent compared with the 1st half of 2014.

Total operating revenues was 35,978 million NOK first half 2015. The increase in revenues is largely due to organic growth, which shows that the company’s retail business is doing well in market competition . The takeover of 50 former Ica-stores has also contributed positively.

Consolidated operating profit is at 1,415 million NOK, compared to 1,359 million NOK in the same period last year. The change in operating profit from the previous period largely due to divested operations, including four shopping centers.

Profit before tax for first half of 2015 was 1,297 million NOK, compared to 1,159 million in the same period last year.

 

”The retail market has been characterized by increasing competition between low cost players in the first half of 2015. According to market research company Nielsen grew total market by 2.2% as of June. Norgesgruppen, including associated stores, increased by 4.1% the same period.