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Spar revenue rises more than 7% in 2021

Retail

Revenue of the Hungarian unit of supermarket chain Spar rose 7.2% to HUF 791.8 billion in 2021, Spar Magyarorszag managing director Gabriella Heiszler said on Thursday, according to a report by state news wire MTI.

Spar Magyarország operated 614 stores at the end of 2021, including 35 Interspar hypermarkets, 345 supermarkets, and 234 franchise stores. It employed 14,500 people, 500 more than a year earlier.

Capital expenditures came to HUF 32 bln in 2021. Spar opened six new stores, renovated 18, and added 30 franchise units.

Turnover of Spar franchises came to HUF 82 bln. The shops employed over 3,000 people.

Revenue of Spar's Regnum meat plant in Bicske, on the outskirts of Budapest, came to HUF 44.5 bln, making it the country's second-biggest meat company. 

Fielding a question on the impact of the war on Spar's business, Heiszler acknowledged the presence of Ukrainian suppliers on the food market and said Spar is working to find new sources of supply. She added that there would be no shortages, but those new sources could further increase inflation.

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