Retailer Spar is expanding into Poland in search of new revenue streams from one of Europe’s most dynamic economies.
Spar is buying a controlling interest in the Polish-based Piotr i Pawel Group, which runs 77 delicatessen and supermarket stores, with a wholesale distribution network. Spar, which also operates in Southern Africa, said on Wednesday total turnover for the six months to March grew 8.6% to R54.3bn, despite “tough trading markets across all business geographies”.
Turnover from its Southern Africa operation grew 7.7% to R37.3bn and its operating profit increased to R1.09bn from R1.04bn.
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