Mercadona posts 636 million profit and announces future investment

  • Sales have grown by 3.4 per cent in the last year

Mercadona, Spain's largest supermarket chain seems unstoppable. Announcing its annual results on Thursday, the company said its sales had grown 3.4 per cent in 2016 to 21.6 billion euros, bringing profits of 636 million euros, an increase of four per cent. This came despite the average prices its customers pay in its stores falling by one per cent.

Chief executive, Juan Roig, warned that profits would drop next year as the Valencia-based company carries out major investment. Roig wants to improve the butchers, cold meats and bakery counters. Mercadona created 4,000 permanent jobs in 2016 and now employs 79,000 people.