Dia Posts Solid Q313 Results On Emerging Markets Growth
News: Spain-based supermarket chain Dia's revenue increased 2.5% year-on-year (y-o-y) to EUR2.91bn (US$4bn) in Q313 ended September. The rise has been attributed to solid sales growth in emerging markets and the sale of its Turkish business. The company's net profit rose 4.5% y-o-y to EUR58.3mn (US$80.4mn) during the period, while its like-for-like sales grew 0.8% y-o-y. The company reported strong like-for-like sales growth of 14.7% y-o-y in emerging markets in Q313.
BMI View: Predicated on an economic recovery, over the five years to 2017, Spanish mass grocery retail companies are expected to continue the steady expansion of their retailing footprints, as well as the introduction of a broader range of non-food lines in hypermarkets and supermarkets. An improvement in the economic environment will see hypermarket and supermarket sectors return to growth.