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Spinneys says revenues could hit $1bn by 2013

Michael Wright, chief executive of Spinneys, has said the regional supermarket chain is set to cross the $1bn revenue mark in two years and is looking to expand further in the Middle East, Reuters has reported. The company has seen its revenues grow by around 20% since 2007 in Lebanon, while in Egypt it is seeing even larger figures, he said. "We anticipate that by 2013 our annualized revenue will be at $1 billion," Wright said.