Hema, one of the country’s oldest and most popular high street chains, on Tuesday announced a rise in profit for 2011 of €11.4m, compared with a loss of €18.3m in 2010. Turnover rose 3% to €1.15bn.
CEO Ronald van Zetten said in a statement: ‘We have done well despite a difficult year.’ Hema has had to cope with fewer sales of household goods, more competition on price and the increase in the price of raw materials, he said.
Profit margins declined because of the higher price of such materials as cotton, oil and coffee.
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