Bomi grows further

Upmarket grocer PPH Bomi has reported sales revenues of zł.284.7 million and a zł.5.7-million net profit for H1 2008 - 31- and 7.7-percent increases, respectively, over H1 2007. The second quarter alone brought the firm zł.147.7 million in sales revenues and a zł.5.47-million net profit. The results were in line with Bomi's financial forecast from June.

Consolidation within the group and organic growth are Bomi's strategic goals for the near future. August 1 saw the merger of Bomi and competitor Rast, with the latter's assets acquired by Bomi in exchange for 8.1-million L-series shares for Rast's shareholders. The merger has increased Bomi's retail chain by 20 supermarkets (approximately 28,000 sqm).

By the end of the month, Bomi also wants to take a 95-percent stake in Rabat Pomorze, a grocery distributor present in the Pomorze region and in southern Poland. The operational merger will take place in Q4.