Mexican grocery retailer Soriana posted a like-for-like sales decline of 5.5% in its 2009 financial year.

Net consolidated profit soared 66.4% to MXN2.9bn (£152.4m) against 2008, while net sales fell 4% to MXN91.8bn (£4.8bn). During the period, the retailer managed to make savings of MXN1bn (£52.6m) through its efficiency plan.

By the end of the year, Soriana’s net debt amounted to MXN6.9bn (£362.6m), representing a 38.5% reduction compared with the close of the previous year.

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