French retailer Auchan has said that its net profit fell 12% in 2002, due to a series of one-off items including charges related to its withdrawal from the US and the depreciation of assets in Argentina and Mexico.

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The privately-held retailer said net profit was €292m (US$340.0m), compared with €330m in 2001. One-off item generated a net charge of €176m compared with €23m a year earlier.

Auchan said revenue was up 5.2% to €27.56bn, while operating profit was up 5% to €1.06bn.

The company, which is France’s second-largest supermarket retailer by revenue, said net debt grew 13% to €2.66bn, reported Dow Jones International News.

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