FRANCE: Carrefour reports rising H1 revenue
Carrefour has posted a 6% rise in first-half revenue after squeezing out growth in France and enjoying robust performances in Latin America and Asia.
The French retail giant reported a 6.2% increase in sales to EUR44.1bn (US$60.6bn). However, stripping out the effects of currency fluctuations and sales boosts from store openings, Carrefour saw like-for-like sales inch up 1.3%.
In France, the retailer squeezed out sales growth of 0.9% to reach EUR20.3bn, or some 46% of group turnover.
In Europe, Carrefour's revenue rose 6.5% to EUR16.7bn thanks largely to the company's expansion on the continent outside France, as well as growth in Greece, Poland and Romania.
In Latin America, the company posted a leap in turnover of almost 25% to EUR4.1bn, buoyed by acquisitions in Brazil and store expansion in Colombia.
In Asia, Carrefour's first-half sales rose 20.4% to EUR3bn. In China, which accounts for half of Carrefour's sales in the region and where it has just opened its 100th store, sales rose 25.6% to EUR1.5bn.
Sales in Taiwan dipped during the second quarter, Carrefour said, due to difficult economic conditions.
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