Globus raised its profit by 4 percent to CZK 365m in the Czech Republic y-o-y in fiscal year 2015/2016, despite a 0.5 percent drop in revenues to CZK 22.8bn. The drop was due to the fall in revenues at Globus petrol stations, according to the company’s annual report. Profits grew on the back of higher margins and more efficient management.
The hypermarket chain plans to invest up to CZK 4bn over the next three year into smaller shops in city centers, into modernization of some of its hypermarkets and into an e-shop. In all, the chain plans to add ten new stores in both formats to the 15 hypermarkets it operates in the Czech market. Its turnover could grow by further CZK 10bn.
