French food retailer Groupe Hyparlo has posted 2002 net profit of €14.7m (US$15.8m), up 55% year-on-year.

The retailer’s 2002 operating profit rose 45% year-on-year to €22.1m, while net debt decreased to €39.5m from €49.2m a year earlier.

Hyparlo sold three of its supermarkets in Italy to French retailer Carrefour at the beginning of this year, in a move to focus its operations in France and Romania, reported the French News Digest.