AB Vasilopoulos reports 5.0 pct rise in Q3 sales

AB Vasilopoulos on Wednesday reported a 5.0 pct increase in its third quarter sales to 367 million euros, from 350 million euros in the same period last year.

 

In a report by Delhaize Group -the owner of the super market chain- said AB Vasilopoulos continued gaining significant market share despite adverse economic conditions prevailing in the country. Private label sales accounted for 17 pct of total sales. Operating earnings margin fell to 2.3 pct of sales in the third quarter of 2010, from 3.6 pct last year, reflecting additional promotion actions, higher payroll cost and higher taxation. Operating earnings fell 31.8 pct to 9.0 million euros, from 13 million euros last year.