Mar 2, 2023
Groupe BMR Bright Spot In Sollio Earnings
Sollio Cooperative Group had sales of $8.9 billion in fiscal 2022, up $1 billion from fiscal 2021. The company had a net loss of $337.5 million including loss from discontinued operations, compared to a net loss of $21.5 million in the prior year. Despite results that fell short of expectations, the excellent results in some of our business sectors should be noted, particularly in the retail division with Groupe BMR, says Pascal Houle, chief executive officer of Sollio Cooperative Group. “Groupe BMR retail division has implemented a number of initiatives that have allowed it to navigate through these exceptional market conditions. After two years of sustained demand owing to the COVID-19 pandemic, a decrease in sales was expected compared with 2021. Instead, sales are up by $44 million (+2.9 per cent) compared with 2021.”
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