French supermarket group Casino has posted a 12% rise in first-half net profit, helped by sales at its urban French outlets.
Go deeper with GlobalData
The company reported net profit of €199m (US$215.8m) for the first half, compared to €177.5m a year earlier. Operating profit was €442.9m, compared to €401.5m a year earlier. Analysts had forecast net profit of €196.2m and operating profit of €444.7m.
Casino, which operates stores under the Geant, Leaderprice, Franprix and Monoprix banners, said its sales slid 0.2% to €11.01bn.
The company backed its target of full-year sales growth of more than 6%.
Casino attributed the growth in first-half operating profit mainly to a good performance in its domestic operations, which account for 96% of operating income. Its discount stores, such as the Leaderprice chain, and convenience stores performed particularly well, reported Reuters.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
