Profit increase

True Value, an American cooperative buying group, was able to increase net profit by 50.3 per cent to US $ 18.5 mio in the second quarter of 2009, although centrally invoiced sales have dropped 5.4 per cent below last year’s result for the same period to US $ 540.7 mio. The cooperative has revealed a net profit up 64.6 per cent to US $ 39 mio for the first six months of 2009. During this period sales went down by 5.1 per cent to US $ 1.036 bn.