Auchan has announced that net profit from continuing operations for the first half of the year increased by 60 per cent to €248m, part of an impressive set of results for the first six months of the year.
The French retailer said that group revenue increased by 6.8 per cent to €20bn, with ongoing growth in markets such as China and Russia and a favourable foreign currency exchange rate boosting sales.
Earnings before interest, taxation, depreciation and amortisation climbed 9.8 per cent to €1.02bn, representing 5.1 per cent of revenue compared with 4.9 per cent last year, while debt fell by 10 per cent.
'The significant growth in revenue and earnings reflects our dynamic expansion in emerging countries and the resilience of our business in the euro zone, despite the still difficult economic conditions,' said Vianney Mulliez, chairman of the board of directors at Auchan. 'Overall, the performance in the first half gives us confidence to face with determination a second half that looks set to be uncertain and difficult.'
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