Belgium-based retailer Colruyt has reported that operating profit during the first half of the year jumped 7.7 per cent on the previous year to hit €212.5m.
The group said that revenue increased 14 per cent to €3.09bn during the six month period, with net profitincreasing by5.2 per cent to €150.4m. Gross profit rose by 13.9 per cent to E755.5m, compared with E663.6m during the same period of 2007/08.
The results were slightly down on Reuters' analysts' predictions of €220m for operating profit.
Additionally, Colruyt said that it was maintaining its year-long net profit forecast at €304m, again against analysts expectations of an increased target.
'We know that Colruyt tend to be a little conservative - it's a bit disappointing,' Bank Degroof analyst Ivan Lathouders told Reuters. 'It must be that they expect a little less growth in the second half.
