FRANCE: Auchan Reports Modest FY Growth

Auchan has reported modest sales and profit growth for its 2016 fiscal year, which it said was one of “major changes”.

For the year, revenue edged up 0.7% to €52.8bn, while underlying operating profit grew by 1.3% to €1.2bn, and underlying net profit jumped up 18.2% to €824m.

Auchan Retail saw revenue grow by 0.7% to €51.7bn, helped by growth in 11 of its 14 markets (in constant-currency terms).

Wilhelm Hubner, Chairman of the Management Board, noted: “The year that has just finished was a year of major changes for the three Auchan Holding companies…In a fast-changing global landscape, Auchan Holding has posted solid and improving results, in line with its expectations, and showing potential for the future.”