Casino has reported on a major jump in sales and net profit for the opening half of the year (H1), boosted by acquisitions and international growth.
Net profit climbed from €124 in the first half of 2012 to €594m, the retailer revealed, with trading profit up 51.9 per cent on the acquisitions of GPA and Monoprix and strong Latin American performances.
Sales jumped 37 per cent to €23.77bn from €17.35bn last year, with organic sales growth climbing 1.4 per cent.
'In H1 2013, the group increased its underlying net income group share by more than 8 per cent,' said Jean-Charles Naouri, chairman and CEO of Casino. 'It posted sustained sales growth thanks to its profile’s transformation, strengthened by the acquisition of Monoprix, to its international subsidiaries growth and, in France, to robustness of its proximity and discount banners.
'In H2, the group should benefit, in France, from the robustness of Franprix-Leader Price and Monoprix, from price cuts in hypermarkets, which should enable to resume growth in traffic and volumes and internationally from continued expansion,' he added.
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