Chile's Falabella added around 208,000 sq m of sales area over the last twelve months, helping drive revenue growth of 10.1% in its non-banking operations in the second quarter of 2013.
Continues level of performance from Q1
These quarterly results follow good increases in operating income and revenues for the non-banking businesses in Q1, again due to greater sales area and positive same store sales growth. Consolidated group revenues were up 10.1% year-on-year for Q2 and 9.4% for the half. Net profit growth was in the double digits in Q2 (+12.6%) and first half (+20.2%). At Tottus supermarkets, a higher volume of sales and growth of private labels helped boost revenue.
Brazil entry complete, expansion continues
The acquisition of a stake in Construdecor was completed on 1 July, marking Falabella's entry into Brazil. The group is also beginning to construct DIY stores in Uruguay, marking its entry into that market, where it plans four stores over the next four years. In the existing business, two Tottus supermarkets opened in Peru, alongside three other non-grocery stores across the region as a whole.
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