Mega Image owner ups profit due to higher sales in Romania, Greece

Belgian retail group Delhaize, which owns the Mega Image supermarket chain in Romania, saw a strong increase in its profit in the second quarter of this year, due to the solid sales recorded in Romania and Greece, according to the group’s quarterly report. The group’s profit grew by 10.4% in April-June this year compared to the same period in 2015, reaching EUR 247 million. The profit margin rose from 3.7% to 3.9%. The group’s sales also increased by 2.8% to EUR 6.2 billion. The group’s South-East division, which includes Greece, Serbia, and Romania, saw an operating profit of EUR 47 million, up 27% year-on-year. The profit margin grew to 5% whereas the sales reached EUR 939 million, up 13.4% year-on-year. Mega Image is the largest supermarket chain in Romania with a network of 482 stores. In 2015, Mega Image had a turnover of EUR 801 million and a net profit of EUR 23 million in Romania, according to data from the Finance Ministry. Mega Image Romania keeps investing EUR 50 mln per year in expansion editor@romania-insider.com