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Co-op Hungary sees revenue rising 5% in 2009

Hungarian-owned supermarket chain Co-op Hungary expects its revenue to rise 4%-5% in 2009 over last year's HUF 500 billion, in spite of the economic crisis, CEO László Murányi told MTI on Wednesday.

Co-op Hungary's revenue rose 14% in 2008.

After-tax profit are seen falling to around HUF 3 billion from HUF 4.5 billion-HUF 5 billion in 2008, Murányi said.

Co-op Hungary expects to perform better than the industry average in 2009, he said, citing a survey by market research company Nielsen that showed sales volume of retail food fell 2.5%-3% in the past months because of the recession.

Co-op Hungary has about 5,000 stores, giving it 14.5% market share.

About 90% of stock in Co-op Hungary stores is from Hungarian suppliers. (MTI-ECONEWS)