SPAIN: DIA posts 5.3% increase in profit in Q2 | Progresiv
Spanish retailer DIA has posted a 5.3% rise in underlying net profit to 102.5 million euros for the second quarter of the year, according to latest results filed. Like-for-like sales growth at the retailer reached 2.9% in the period, with its emerging markets portfolio seeing its sales rise by 20.5%. 
The period saw DIA announce an agreement to purchase 100% of the shares of El Arbol, a convenience chain in Spain, as well as an agreement with Carrefour over the acquisition of Carrefour France.
”These transactions are perfectly in line with our strategy of concentrating our efforts in market where we can generate the best returns,” said chief executive Ricardo Curras.
“Both transactions are pending the final approval of antitrust authorities, and in the case of El Arbol, it will reinforce our posit as leaders in price and proximity in our most important market.” (www.esmmagazine.com)
