REWE surprises with solid growth figures for 2006

Presenting its financial figures for 2006, Germany's second-largest co-operative retailer Rewe Group said it "significantly boosted turnover and profit" during the past year. With total turnover reaching EUR43.5 billion (USD54.5 billion), the growth rate equalled 4.2%.

The consolidated result of Rewe Group EBITA, according to IFRS, excluding independent retailers, increased by 25% to EUR655 million (USD821.8 million).. The growth in turnover was equally generated by Rewe Group's domestic and overseas operations.

"After a weak first half of the year, the spring did not begin for Rewe Group until the autumn," summarised CEO Alain Caparros, when the retailer rebranded its diverse supermarket banners under the Rewe logo in September 2006. "We have carried over the upswing into the new year. Turnover in the first few months of 2007 is higher than in the comparable period for the previous year.”