LAURUS 2006 net loss narrrows
LAURUS 2006 net loss narrrows
Casino owned Laurus in the Netherlands has this morning posted a 2006 net loss of EUR45 million (USD56.4 million), its third in a row, impacted by restructuring costs and the sale of two of its supermarket chains. However, the retailer has narrowed its loss from EUR66 million (USD82 million) in 2005. Group net sales fell by 9.4% to EUR2.9 billion (USD3.6 billion). "Laurus is still in a major, far-reaching reorganisation process," Chief Executive Jan Brouwer said in a statement. The company said it expected another loss this year, but that it would be significantly less than in 2006. Super de Boer is expected to report about EUR2 billion (USD2.6 billion) in consumer sales and break-even earnings before interest and tax (EBIT) this year, Laurus said. It will invest about EUR20 million (USD26.3 million) to overhaul about 20 stores.