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Co-op reports Ft 375 bln revenue in 2005

Hungarian supermarket group Co-op had revenue of Ft 375 billion in 2005, including Ft 253 billion generated by sales at its 3,000 stores around the country, president-CEO Pál Bartus announced yesterday.

The group had pre-tax profit of Ft 2.7 billion in 2005 and spent Ft 3 billion on investments, deputy CEO László Murányi said. In 2006, Co-op targets revenue of Ft 400 billion, Murányi added.
Co-op controls 11% of Hungary's FMCG market, according to figures compiled by research company Gfk Hungária.
In 2005, sales of Co-op's house brands accounted for 25.8% of total turnover, and were up 2.8% from a year earlier, rising more than the sale of other products. The company has 650 house brands and plans to introduce 50 more by the end of 2006.
Co-op stores employ 32,000 people.