The discount retailer Penny Market produced turnover of more than CZK 42bn last year, an 8 percent rise compared to 2017. It did this in part by improving the number of customers it served during the year by 4 percent to 158 million and by carrying out CZK 1bn worth of investments. The company reported that its profits rose more than CZK 300m to CZK 866m. The funds will go some way towards paying for the modernization of all of its 380 stores in the Czech Republic, a project it intends to complete by 2020 at a cost of roughly CZK 1bn. Penny Market employs more than 5,500 people in the Czech Republic.
