FRANCE: Casino Reports Solid Growth In H1

Casino has reported solid profit and sales growth for its fiscal first half, helped by continued improvement in its domestic business.

For the six months, net sales were up 2.7% on an organic basis to €19.7bn, while trading profit was down 2.4% to €379m on a constant-currency basis.

Sales in France were up 1.4% to €9.26bn, while they grew by 2% on an organic basis.  The Geant Casino banner recorded sales growth and market share gains, Leader Price performed strongly, and the others banners had a “satisfactory performance”.

The Latin American food retail unit saw sales grow by 10% on an organic basis, helped by improvement in Brazil, and solid results in other markets.  The Latin American electronics unit – Via Varejo – saw its sales improve following a change in strategy.  And finally, the e-Commerce unit recorded a 13.7% increase in organic sales.

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