Supermarket group Casino Guichard Perrachon today (15 March) posted a 74.4% hike in full year net profit, driven by improvements in its French and international businesses.
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Net profit rose to EUR600m (US$794m) from EUR344m, while profit from continuing operations rose 34.6% to EUR436m, up from EUR324m.
A 65% rise in international activities and a 0.2% rise in France contributed to an 8% increase in trading profit, which was up from EUR966m to EUR1.04bn.
During the fiscal year, the group disposed of operations in Poland and Taiwan and sold off some US assets, raising a total of EUR1.9bn, of which EUR500m will be received in fiscal 2007.
The group reduced its net debt to EUR4.39bn from EUR5.44bn.
Casino, which operates under a variety of banners internationally, said it would aim to enhance the image of its separate brands and revitalise its Franprix and Leader Price discount units.
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