Spar posted a CZK 4bn loss on the Czech market. The Austrian retailer sold its Czech network to Ahold earlier this year for 5.2bn. This pushes the total profit from the transaction to a mere CZK 1bn, writes the server e15. Spar posted CZK 534m in losses for 2013, while revenues came in at CZK 13.2bn. Spar had bank loans worth CZK 1bn. The chain had CZK 4.5bn worth of assets, including CZK 1bn in properties.
Spar suffered the biggest loss of all the grocery retailers on the Czech market prior to the Ahold takeover. The deal has made Ahold the leading retailer on the Czech market, with a 20-percent market share.
