Carrefour reports return to profit, shares rise
The group benefited from asset sales and from improved profitability in its home market, France.
In the first six months of the year, the group made a net profit of €902m from a loss of €31m in the same period of last year. Current operating profit was steady at €766m slightly down from €769m last year.
However, allowing for asset sales in Indonesia, Colombia, Malaysia, Singapore, Greece and Turkey, and taking account of a new standard for staff benefits, current operating profit rose by 4.9%, or by 7.7% on a basis of constant exchange rates.
This was driven by strong performance in France and Latin America.
Finance director Pierre-Jean Sivignon said during a telephone press conference: "It's been difficult regarding the economic situation and competition but Carrefour achieved a good performance in the first half."
Sales amounted to €36.46bn, marking a fall of 6.0%, but of 0.8% on a pro forma basis.
Carrefour said that it make an annual operating profit of about €2.2bn.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
