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Alfa-Beta profit up November 8, 2007

Posted by grhomeboy in Business & Economy.
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Alfa-Beta Vassilopoulos, the Greek supermarket chain controlled by Belgium’s Delhaize Group, said third-quarter profits rose 68 percent as sales increased.

The shares rose the most in almost three months. Net income increased, aided by a lower tax rate, to 8.9 million euros from 5.3 million euros a year earlier, according a statement today to the Athens bourse. Sales increased 12 percent to 279 million euros. The company plans to have 162 points of sale by the end of the year, compared with 154 at the end of September.

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