French food and clothing retailer Monoprix, which is co-owned by retailers Casino and Galeries Lafayette, has posted a 59% rise in 2002 profit, boosted by lower costs.

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Monoprix’ 2002 profit increased after one-time costs to €120.7m (US$130.3m), compared to €76.0m in 2001.


The retailer’s 2002 profit before one-time costs and taxes increased 34% to €184.2m.


Last month, French supermarket chain Casino and retailer Galeries Lafayette announced a deal that could enable Casino to take full charge of Monoprix by 2006, reported Reuters.

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