Magasin Général (MG), part of the Bayahi group, has released its financial results for the year ending December 31, 2016. The results show a net profit of 12.144m dinars (US$4.95m) compared to 7.384m dinars (US$3.01m) in 2015, up 64.4%. Turnover was 841.3m dinars (US$342.9m), up 1% on 2015.
The improved results are partly due to Magasin Général’s partnership with french grocery chain Auchan. In March 2012, after two decades of negotiations, Auchan took a 10% stake in Magasin Général. Auchan has provided training to MG’s employees and shared some best practice. As a result, despite an unfavorable economic situation MG has managed to increase its sales density (turnover/sqm).
