Danish retail chain Jysk added 100 new stores in the latest fiscal year, propelling its turnover to a record 3.123 billion euro.

Earnings before interest and tax reached 421 million euro.

The company now has a presence in 45 countries, this year making its debut in Georgia and Belarus. Next year it plans to expand into Belgium as it targets opening a further 100.

“We have every reason to be happy with the result. Our goal is to grow and make money and we have managed to reach that goal,” owner Lars Larsen said of the results.

Most of the recent expansion has been focused on Eastern Europe, where Poland is now its most important market. It has also expanded in Hungary, Romania, Bulgaria, Serbia, Slovenia and Croatia.  

And for the first time since it entered the Netherlands, Jysk has made a profit there.

“The Netherlands are a perfect example of why we should be patient,” said Larsen. “We knew we would turn a profit there eventually and now the time has come.”