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Centros Comerciales Carrefour España, the Spanish unit of French retail giant Carrefour, has reported a 46% year-on-year fall in net profit in the first nine months of the year.

The company posted net profit of €116m (US$117.4m) for the nine-month period, attributing the fall to the €141m of capital gains that Carrefour España booked in the first nine months of 2001 from the sale of 12 hypermarkets and other assets.

Operating profit in the first nine months of 2002 was 8.1% up on the year-ago period to €148.3m, while sales were up 7.7% to €5.25bn.

The company has also reiterated its target of 10% growth in operating profit for 2002, reported Dow Jones International News.

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