For the first half of 2011, French retailer Auchan reported a fall in operating profit from continuing operations of 8.5 per cent to €450m as a result of a 'decline in EBITDA and higher depreciation charges linked to investments'.
The group’s consolidated revenue excluding taxes increased by 5.8 per cent to reach €21.2bn, although revenue trends varied significantly by country.
In France, Auchan posted 3.3 per cent growth, while other western European countries posted a minor decline of 0.8 per cent; revenue in central and eastern Europe and in Asia continued to grow sharply, on the other hand, increasing by 16.8 per cent.
Chairman Vianney Mulliez commented: “Our staff have successfully withstood the continuing difficult conditions in western Europe while continuing to operate a quality discount business. We have also reduced our debt load while increasing investment, particularly internationally. Our international business now accounts for 55 per cent of total revenue, thanks to our growth and our performances in eastern Europe and China.'
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