Retail News: Carrefour 2003 revenues; Selgros; Maspex buys Lubella

The Carrefour group hopes to open two or three new hypermarkets and between ten and fifteen supermarkets in 2003 and achieve higher revenues than in 2002. The group's turnover last year reached its target of zl. 3.5 billion ... The Selgros cash'n'carry chain with eight sites in Poland, recorded a rise in sales revenues and profits in 2002. Official financial results for the chain will be released by the end of January, but they have been initially assessed as good, although slightly worse than expected. In 2001 the Polish company's net earnings increased almost three-fold to zl. 16.1 million ... Maspex has paid the Victoria National Investment Fund more than zl. 35 million for 33.17% of the shares in Lubella, the leader on the pasta market. In addition, Maspex has also submitted an offer to the Lublin-based plant's other shareholders for the purchase of almost 60% of the company's shares, and expects to finalize the transaction within the next few weeks. Maspex, which is based in Wadowice, generated revenues of zl. 1.11 billion in 2002. It increased its share on the fruit juice, nectar and drink market by 9% and remains at the head of the field. (Retail News is C/O Polish Market Review Retail Update No.6, www.polishmarket.com)