Jelmoli Group posted a record net profit of CHF 920.8 mln (EUR 581.75 mln) in 2007, up nearly 412% on the previous year, thanks to a one-off gain from the disposal of home furniture wholesaler Dipl. Ing. Fust and a strong operational performance. Operating profit for the year amounted to CHF 142.1 mln (EUR 89.8 mln), an 8.9% rise on 2006, the retailer said on Tuesday. Another important development was Jelmoli’s agreement to dispose of its Swiss property portfolio at the end of 2007. The subsequent breaking of this agreement by the Delek group has led to ongoing court proceedings.
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