FRANCE: Casino retail group announces spectacular H1 profit growth
The augmented profits were the result of sales totalling €8.226bn. Rising by 15.3%, the company's sales experienced a higher than average annual growth rate, which has been calculated at 12% since 1995.
The company has experienced accelerated growth over the last three years, and is focusing on the consolidation of its rapid international expansion. Casino's international ambitions have been practically realised since 1996 and the company's current performance in the US, Poland, Argentina and Uruguay reflects the capital investments ploughed into ventures outside of the French market. Revenue from foreign operations was calculated today at 37%, which, the company said, has risen from just 14% this time last year.
In 1999, Casino launched its shopping site on the web, and inaugurated its first multimedia centre in Rennes, and in the latest statement the company announced its intentions to further expand its Internet operations. This contrasts strongly with the announcement earlier this week that market leader Carrefour was to reduce its planned investment in online activities.
These latest figures represent a strong performance by the company, both within the French retail market and the on the back of continual expansion of foreign investment, and analysts are predicting a rise of at least 20% in both net and operating profit when the results for the full-year period are announced.
Six months to June 30,
(in millions of euros unless otherwise stated)
|Net attributable profit after goodwill||127||105|
|Net attributable profit before goodwill||141||n/a|
|Earnings per share (euros)||1.29||1.14|
Casino Guichard Perrachon - Paris - Six Months To June 30:
|Net Pft||EUR127 Mln||EUR105 Mln|
|Revenues||8.23 Bln||7.13 Bln|
|Operating Profit||251 Mln||209 Mln|
|Per Share Earnings||1.29||1.14|
Retailers are expanding ever further, and food manufacturers are becoming more and more multinational. Expansion can bring increased profits, not just through higher sales but also more efficient sour...
Buying power is often used by supermarkets to negotiate with their suppliers to get lower prices. These savings can then be passed onto the consumer in terms of price cuts and promotions. But do consu...
French retail giant Carrefour has denied newspaper claims that it has been holding talks with US titan Wal-Mart....
Carrefour of France is the top foreign retailer in China, measured by sales during the first half of the year, according to a Chinese Ministry of Commerce survey quoted by the Dow Jones news agency....
A judge in Buenos Aires province has imposed an embargo of more than 150m pesos (US$52.4m) on French retailer Carrefour in favour of provincial tax authorities, according to the Dow Jones news agency....
French based supermarket chain Carrefour has announced a rise in sales of 4.1% to €20.4m in the second quarter of 2005....
French supermarket chain plans to buy French low-cost supermarket Penny Market from Germany's Rewe, while selling catering supplies group Prodirest to transGourmet, a joint venture between Rewe and S...
French supermarket Carrefour has acquires 10 hypermarkets in the Sao Paulo area from Sonae, it said today (Thursday)....
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- Mondelez goes beyond certified cocoa - analysis
- How Tyson's new CEO plans to grow the meat group
- The key questions for digital strategists in 2017
- Nestle unveils process to cut sugar by 40%
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- Putin 'wants embargo to run as long as possible'
- McCormick to buy flavours business Enrico Giotti