Supermarket concern Colruyt increased its market share in Belgium in the financial year that ran until the end of March. With the Colruyt, OKay and Spar chains, it now has 32.2 percent market share in its own country, compared to 31.8 percent a year earlier. This is evident from the annual results of the industry colleague of Ahold Delhaize.

The group did not do badly financially in the past financial year. Sales amounted to 9.4 billion euros, a 2.8 percent growth on a comparable basis. The EBITDA amounted to 758 million euros or 3.2 percent more than in the previous financial year. There is good news for investors in Colruyt: the board of directors proposes a dividend increase from 1.22 to 1.31 euros per share.

In his outlook, Colruyt warns of “stronger price and promotional pressure in a challenging Belgian retail market”. The group also does not expect that the economic climate for consumers in Belgium and France will improve significantly in the short term. For the Colruyt retail chain, the group says it will continue to stick to the lowest prices strategy.

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