German Food Sector Proves To Be Resilient

Despite the global economic slowdown, Germany's second largest grocery retailer Rewe has announced buoyant results for its 2008 fiscal year. Over the 12 months to the end of December, Rewe's revenues increased by 10.5% to EUR49.8bn, while earnings before interest, taxes, and amortisation (EBITA) came in at EUR708mn. Rewe's domestic sales increased by 7.4% to reach EUR33.9bn, while international revenues climbed by 17.9% to reach

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