'Turkish Aldi' BİM Aiming For 25% 2010 Growth

Turkey's leading discount retailer BİM Birlesik Magazalar A.S is aiming to grow annual sales by 25% in FY10 (12 months to December 31 2010), with growth likely to be driven by aggressive organic store expansion. Sometimes called the 'Turkish Aldi' due to the similarity of its business model to that of the German discounter, BİM reported above consensus FY09 headline year-on-year (y-o-y) earnings growth of 86% to TRY213mn (US$101.94mn) with annual sales increasing by 25%. Bearing in mind that BİM's y-o-y sales growth comfortably outperformed the market, with BMI forecasting that headline discount sales increased 17.24% to TRY4.42bn (EUR2.12bn) in

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