Germany's second largest retailer, the Rewe Group, this morning announced their financial results for 2013 which showed a rise in both sales and profits.
The retailer said that sales in its home market were up 2.9% to €36.2 billion.
While on the international market, where Rewe operates in 12 different countries, sales also rose 2.9% to €14.4 billion.
Group CEO Alain Caparros, who was recently rewarded with a contract which will see him remain as boss until 2018, said that the company "has thus continued its course of profitable growth and further expanded its strong position at home and abroad."
EBITA increased 15% to €466 million. "The balance sheet situation of our company is outstanding," said Caparros. "We are well prepared for the challenges that lie ahead," he said.
Caparros went on to say that Rewe plan to invest as much as €1.6 billion in 2014, up from €1.4 billion last year.
