French retailer Casino has posted a 17.5% rise in 2002 earnings and has forecast further growth for 2003.
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The supermarket operator posted net profit of €445.2m (US$491.5m) for 2002, up from €379m in the previous year and in line with forecasts of €442.6m, thanks to a strong performance at its local and discount supermarkets.
Casino, which operates stores under the Geant, Casino, Franprix, Leader Price and Monoprix banners, also posted a 13.2% rise in 2002 operating profit to €966m, on a 4% rise in sales to €22.86bn.
The retailer forecast that internal sales would grow by 6% in 2003, and said that it saw growth in operating profit and pre-tax profit before exceptional items in line with that achieved in 2002, reported Reuters.
Casino said its French operations achieved a 17.5% rise in operating profit to €911.7m.
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