BELGIUM: Colruyt still cautious on FY after "strong" H1
Colruyt sales up 4% in Belgium
Belgian retailer Colruyt has maintained its forecast for annual profits even after an almost 10% jump in earnings.
Colruyt said it still sees its net profit for the current financial year "in the same range" as a year ago despite a 9.7% increase in its bottom line for the six months to the end of September.
The retailer's first-half net profit reached EUR176.2m (US$239.2m); operating profit was up 10.4% at EUR254.7m.
Revenue increased 4.6% to EUR4.25bn. Colruyt also pointed to its success in "keeping cost growth under control".
Retail sales in Belgium were up 4% at EUR2.67bn. In France, a smaller market, sales increased 11.3% to EUR119.8m.
Click here for the full statement.
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Column: Kraft Heinz, Unilever and sustainability
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Brazil giants JBS, BRF probed over alleged bribery