Spar foresees increasing revenue and expansion in 2016

Telco

The Hungarian unit of Austrian-owned supermarket chain Spar foresees its revenue increasing further in 2016, and is also planning to expand in the country, communications manager Mark Maczelka told Hungarian news agency MTI yesterday.

Spar Magyarország is looking to open three or four new stores in the Hungary next year and renovate 30 other units, the manager said. The company renovated 13 units in the country this year with an investment of approximately HUF 3 billion, and is planning to spend an additional €72 bln on investments next year.

Spar has more than 400 stores in Hungary and operates approximately 75 units with its franchise partners, employing almost 13,000 workers, Hungarian news agency MTI said.

The company projects positive results on revenue of HUF 490 bln in 2015 after losses of HUF 18 bln on HUF 473.7 bln in revenue last year.

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