Groupe Casino has this week reported on a rise in sales of 5.6 per cent during the first-quarter of the year, following strong gains in Brazil where the company is a majority shareholder in CBD.
International operations, representing 36 per cent of sales, saw a sharp acceleration in organic growth of 10.6 per cent to €2.38bn, with South American results showing a sales increase of 13.3 per cent.
However, sales in the group's domestic French market fell 2.3 per cent to €4.2bn, or a drop of 0.9 per cent excluding fuel, although Casino said that the trend in domestic sales had improved when compared with the first quarter of 2009.
Organic growth remained 'brisk' in Asia, according to Casino, rising by 7.3 per cent on the back of firm sales in Thailand and sustained, strong growth in Vietnam.
'Groupe Casino is confident in its ability to strengthen its market share in France by improving the price competitiveness of its banners through the reinvestment of purchasing gains and by faster expansion in the convenience and discount formats,' the group said in a statement. 'Internationally, the quality of the group's assets should drive further strong and profitable growth.'
'The group will pursue its €1bn asset disposal programme and confirms its target of a net debt/EBITDA ratio of less than 2.2x at year-end 2010.'
