French retailer Casino has reported a strong sales increase of 18.8 per cent in the second quarter of 2011.
The group attributes such growth to faster organic growth, at 7.8 per cent excluding petrol compared with 4.7 per cent in the first quarter, and strong organic growth in international markets, with sales up 15.1 per cent.
Organic growth also accelerated on the beleagered French market, with sales rising by some 3.2 per cent.
Chairman and CEO Jean-Charles Naouri commented: 'The faster growth recorded in the second quarter, both in France and in international markets, illustrates the Group's excellent sales dynamic. The relevance of our business model allows us to reaffirm our objectives, particularly our goal of delivering annual sales growth of more than 10 per cent in each of the next three years while maintaining a solid financial structure.'
In South America, organic sales growth stood at 17.9 per cent, driven by faster growth in both Brazil and Colombia, as well as 'very satisfactory' performances in Argentina and Uruguay.
In Asia, Casino recorded organic growth of 10.3 per cent, thanks mostly to sustained growth in Thailand and Vietnam.
For the first half of the year, Casino reported a group sales rise of 18.8 per cent, with organic growth standing at 6.3 per cent excluding petrol.
