TAKEN FROM THE PRESS
sales King Holdings Corp. and subsidiaries amounted to 220.8 million dollars during the first half of fiscal 2009, ended March 31.
This amount represents an increase of 18.7% ($ 34.8 million) compared with $ 186 million in sales recorded during the same period of 2008, as a report of the company.
group's financial statements indicate that, however, the gross profit margin decreased to 21.4% in the first half of 2009, compared with 23% for the same period last year. Therefore, gross profit increased to $ 47.3 million for the first half of 2009 compared to $ 42.9 million for the same period last year.
The results obtained show a net profit of $ 8.4 million for the first half of 2009 compared to $ 6.1 million during the same period last year, with a higher income tax ($ 4.3 million compared to $ 3.4 million for the same period last year.)
Marketing manager and Corporate Affairs, Roberto Maduro, said the group hopes that the investment policy that has drawn President Ricardo Martinelli revitalize the economy, to overcome any negative effect of the current international financial crisis.
Due to this reason, the group King sees further growth of its operations, opening new facilities both Rey supermarket in the Azuero region and at the entrance of the Centennial Bridge in the capital city. David and are advanced in the works to open a supermarket in Barrio Bolivar Romero. Also expected to open another Mr. Price.
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