Marked improvement in AVA results

According to provisional figures released, AVA of Bielefeld concluded the 2004 financial year with group profits before tax of € 57.8 mio, an increase of 43.6 per cent over the previous year. The company stated that the satisfactory trend was attributable to the hypermarket and superstore division. Added to this was a marked reduction in losses in the DIY store division. AVA group sales grew by 0.9 per cent in 2004 to € 5.61 (5.56) bn, according to the final figures. The principal shareholder of AVA is Edeka, Hamburg.