Retailer Coop Hungary expects flat revenues in 2010.

By bne IntelliNews September 16, 2010
The revenues of supermarket retail chain Coop Hungary are projected to remain flat in 2010 at the level HUF 510bn form last year, the company informed. The retailer expects to strengthen its performance in H2, since the revenues have already dropped by 3% y/y in H1. The deterioration in the first half of the year was in line with the overall contraction of the sales volume of Hungary's entire retail food sector for the period, CEO Laszlo Muranyi said. Coop plans to maintain its capital expenditure programme worth HUF 3bn in 2010. The company informed that a project for technical upgrade of stores is to be completed by 2012. Coop occupied an 11% market share in 2009.

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