France-based retailer Guyenne et Gascogne has seen annual profits tumble by a third after seeing its domestic supermarkets have a “difficult year”.
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The company booked net profit of just under EUR31m (US$48.6m) for 2007, down from EUR46.9m a year earlier.
The fall in profits came despite a rise in revenue. Net sales reached EUR496m, up from EUR482.5m.
Guyenne et Gascogne admitted it had seen a “mixed” performance across its business last year. Its French supermarkets had a “relatively difficult year”, the company said.
In Spain, its Spanish subsidiary Centros Comerciales Carrefour posted rising sales and earnings.
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