El Corte Inglés wants to increase its presence abroad as it expects domestic consumption to start slowing down in the near future. Portugal is the only foreign country where it has two department stores. A third onee is planned for 2008 or 2009 in Cascais, north of Lisbon. Italy is next in line, as a site has already been found in Milan and plans are being discussed to make a move on Rome as well. The turnover of El Corte Inglés grew by 7.8 percent to €17 billion in the financial year ended last Feb. 28, while net profit increased by 9.1 percent to €712.36 million. The division grouping the 68 existing department stores of El Corte Inglés, many of which feature big sports departments, raised its sales by 6.3 percent €11,767 million, of which €2.4 billion were actually sales to other components of the group. It had a profit margin of 3.88 percent.