Casino has booked higher half-year profits helped by a jump in international earnings but the French grocer’s numbers also revealed continued challenges at home.
The company reported a 45% increase in EBITDA to EUR1.46bn (US$1.93bn) for the six months to the end of June. Casino said its trading profit was up 51.9% at EUR969m. Sales grew 37% to EUR23.77bn.
Casino said the results were helped by the full consolidation of Brazilian arm CBD, also known by its trading name of Grupo Pao de Acucar.
Casino’s move to take full control of French chain Monoprix also helped the results. Trading profit from Casino’s French business increased 1.2% thanks to the Monoprix deal and cost cuts throughout its domestic operations.
However, a look at the retailer’s domestic sales figures showed a continued fall in the second quarter after lower revenues in the first three months of the year.
Second-quarter same-store sales, excluding petrol, fell at each of Casino’s French formats, except Monoprix, where they were flat year-on-year.
Click here for the full statement.