Casino Guichard-Perrachon 2017 Profit Slumped, Sales Rose
March 08 2018 - 02:45AM
Dow Jones News
By Nathan Allen
Casino Guichard-Perrachon SA (CO.FR) said Thursday that its net
profit dropped sharply, despite a slight increase in overall
sales.
The French retailer said its net profit for the year was 120
million euros ($149 million), compared with EUR2.68 billion a year
earlier.
Casino's profit in 2016 was boosted by divestments from its
Asian and Brazilian businesses.
Sales rose to EUR37.82 billion from EUR36.03 billion, confirming
preliminary results published in January.
The company's consolidated trading profit rose around 20% to
EUR1.24 billion, on improved performance at its French and Latin
American stores, the company said.
For 2018, Casino said that it expects to reduce its net
financial debt and generate cash flow of more than EUR1
billion.
The company also expects consolidated trading profit to grow by
more than 10% excluding tax credits in 2018.
Casino's board proposed an unchanged dividend of EUR3.12 a
share.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
March 08, 2018 02:30 ET (07:30 GMT)
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