Casino has booked a 6.6% jump in net income for 2011, with double-digit sales gains driven by a strong performance from emerging markets.
Net income in the 12 months to end-December rose to EUR565m (US$759m), up from EUR529m in 2010, the company said today (28 February).
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Sales growth totalled 18.2% in the period, with revenues rising to EUR34.36bn.
Casino said that gains were driven by a 40.4% increase in sales from emerging markets, such as Brazil and Colombia. Organic sales growth at the group’s international businesses totalled 12.2% in the period.
The French retailer added that its domestic operations offered a “solid contribution” in the year, where it was able to hold its market share steady in the face of poor economic conditions and an intensely competitive and highly-promotional environment.
Casino said that it anticipates continued growth in the coming year and targeted sales growth of 10%.
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By GlobalDataThe company predicted that more than 50% of its revenue will come from “high-growth” countries in 2012 and confirmed that it intends to exercise an option in June to take full control of CBD, Brazil’s largest retailer.
“In 2012, our group will pursue its profitable growth strategy by developing in its key countries banners ever closer to customers’ expectations,” chairman and CEO Jean-Charles Naouri said. “More international and benefiting from sound positions in its markets, the group is confident it will enjoy growth in its operations and results in 2012.”
