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Thailand’s hypermarket Big C sees 2010 sales and profit higher

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Thai hypermarket group Big C Supercenter BIGC.BK said on Thursday it expected growth in both net profit and sales of 6-7 percent in 2010, helped by the opening of new branches and a likely pick-up in the economy.

But this year’s earnings should be flat from last year’s 2.85 billion baht ($86 million) as sales were likely to grow in a range of just 0-2 percent, missing a 5-6 percent target, Vice-President Jariya Chirathivat told reporters.

Big C, 36 percent owned by France’s Casino Group, is the country’s second-biggest hypermarket operator in terms of the number of stores after British-owned Tesco Lotus.

Big C currently runs 67 stores in Thailand. It opened 12 new stores in 2008.

Big C currently runs 67 stores in Thailand. It opened 12 new stores in 2008.

via UPDATE 1-Thailand’s Big C sees 2010 sales, profit higher | Reuters.

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