Almacenes Exito SA (EXITO.BO) posted a net profit of 389.5 billion Colombian pesos ($219 million) last year, a 53% increase from 2010, Colombia’s largest retailer said in a statement Tuesday.
Operating revenue reached COP8.8 trillion last year, up 18% from 2010, the company said. Exito is controlled by French retailer Casino Guichard-Perrachon SA (CO.FR).
Gonzalo Restrepo, Exito’s president, said in the statement the company “will concentrate on expansion” in 2012.
Exito is the market leader in Colombia with a share of more than 40% of the formal retail market. Last year it issued shares for COP2.5 trillion in the local stock exchange to help fund the purchase of Casino’s operations in Uruguay.
Exito’s shares on the Colombian Stock Exchange declined 0.3% Tuesday to COP25,320, compared with a 0.8% fall in the bourse’s main Colcap index.
