Carrefour H1 sales rise 2.9 percent

Sales including VAT stood at 40,552 million euros (45,016 million dollars) at Carrefour in the first half. The company said, currencies had an adverse effect on the performance. However, the company reported sales growth of 2.9 percent on an organic basis. Emerging markets posted double-digit growth, while sales in Europe were stable, impacted by a sluggish consumption environment.

In H1 2016, France posted sales including VAT of 19,196 million euros (21,309 million dollars), slightly down on a like-for-like basis, but on the back of three consecutive years of LFL growth in H1. Sales in international markets stood at 21,356 million euros (23,696 million dollars), up 5.3 percent like-for-like. Sales in other European countries were up 2.2 percent on a like-for-like basis. Latin America posted further LFL sales growth of 14.5 percent in the half. In Asia, LFL sales were down 5.4 percent.

The Group’s Recurring Operating Income (ROI) was up 5.3 percent at constant exchange rates. In Europe, ROI was up 5 percent, while operating margin in France was stable at 1.8 percent of sales. In Other European countries, ROI posted double-digit growth and operating margin increased by 30 basis points, driven notably by strong performances in Spain and Italy. Latin America turned in another strong performance, with its ROI up 12.3 percent at constant exchange rates. Brazil’s profitability continued to improve, but in Asia, ROI was impacted by the transformation of its model in China. In Taiwan, sales growth continued and operating margin improved.

Dividend payments in cash amounted to 121million euros (134.3 million dollars) in H1 2016.

picture:facebook/carrefour