2001 net profits for French supermarket giant Carrefour are expected to rise by 14% to €1.2bn (US$1.04bn) from €1.05bn in 2000, analysts forecast last week.
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With results due on Wednesday, investors are looking keenly to the group’s performance in key markets, notably in key markets France and Spain. The group reiterated forecasts for ‘weak’ growth in operating profits in January, and this has already been reckoned into analysts’ expectations. Operating profits are likely to level out at approximately €2.83bn, representing a 3.7% rise from €2.73bn in the previous period, on sales up 7% to €78bn.
Analysts commented that Carrefour seems to be gaining ground from rival supermarket group Auchan, France’s second largest retailer.
