Lidl earns €16m on land sale
Discount giant Lidl has made a profit of €15.8 million through the sale of the land plots it had acquired in Estonia, when it was considering setting up operations in the country. The figures were based on Lidl Estonia’s annual report, as reported by local media.
For the year ending February 2007, Lidl Estonia reported a net profit of €13.3 million, compared to a loss of €1.07 million in 2006. The company sold assets for a total price of over €28 million, and sold or wrote off all its fixed assets during the year.
(Source: Kamcity)
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