Auchan has attributed an increase in full-year sales and earnings to its “firm” performance in France, Russia and China.
The French retailer said that total sales rose to EUR42.5bn (US$59.1bn) during 2010, a 7.1% increase year-on-year.
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However, excluding petrol sales and currency exchange, revenues rose 4.9%. New store space contributed 3.6% to total sales gains, while like-for-like revenues expanded by 1.3%.
Auchan said that its performance was boosted by a solid growth rate of 3% in France – its largest market accounting for 46% of group sales. Meanwhile, revenues in central and eastern Europe and Asia jumped 22.7%. In western Europe, excluding France, sales gains trailed at 1.1%.
Commenting on the result, Auchan chairman Vianney Mulliez, said that sales were boosted by a “firm business performance” in three “major” countries – France, Russia and China. “Together with eastern Europe, these countries drove our revenue growth,” he said.
During the year, EBITDA rose by 7.1% climbing to EUR2.51bn, while net profit rose 6.6% on the year, rising to EUR742m.
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By GlobalDataClick here for the full release, or check back later for just-food’s insight into Auchan’s full-year.
