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AVA – Marktkauf in the future – intends to concentrate on its core business; the decision has been made to withdraw from Russia
Following the delisting of AVA Allgemeine Handelsgesellschaft der Verbraucher AG, the German retailer is to continue to operate as a private limited company (GmbH) under the name of its marketing company, Marktkauf. The management of the new Marktkauf GmbH is to remain based in Bielefeld. The company intends to concentrate on its hypermarket and supermarket business. The heavily loss-making Marktkauf DIY division is to be sold to partners and the foreign involvement in Moscow is to come to an end. The financial resources that would be required for expansion in Russia are to benefit the core business in Germany.
Because of the losses in the Marktkauf DIY division and simultaneous downward results in other business fields, AVA completed 2005 with consolidated group sales unchanged at € 5.6 bn while recording a loss of € 17.7 mio (previous year: € 42.9 mio net income).
Because of the losses in the Marktkauf DIY division and simultaneous downward results in other business fields, AVA completed 2005 with consolidated group sales unchanged at € 5.6 bn while recording a loss of € 17.7 mio (previous year: € 42.9 mio net income).
