Get the app today! App Store Play Store

French Retailer Groupe Casino Boosted By International Performance

Published on Feb 25 2013 6:26 PM in Uncategorised

French Retailer Groupe Casino Boosted By International Performance

French retailer Groupe Casino has posted full-year results for fiscal 2012. Turnover jumped 22.1 per cent to €41.97 billion, net profit soared 84.4 per cent to €1,065 million and trading profit was up 29.3 per cent, underpinned by the full consolidation of GPA in the second half of the year and strong international growth. The year provided 4 per cent organic growth, excluding petrol.

In France, organic growth was down 0.8 per cent to €18.45 billion, excluding petrol and calendar effect, and trading profit declined by 8.6 per cent. The group's convenience and discount formats' performance was "satisfactory" while Cdiscount displayed growth of 16.3 per cent to €1.5 billion. Sales at the Géant hypermarket banner fell by 7.7 per cent on an organic basis, to €5.25 billion (excluding petrol) impacted by reductions in non-food retail space and price cuts introduced at the end of the third quarter. Like-for-like food sales were down 3.6 per cent at the banner. The group's supermarket format posted sales growth of 1.8 per cent, on an organic basis excluding petrol and calendar effect.

Leader Price’s sales declined by 0.8 per cent on an organic basis, and the group said the banner's turnaround was delivered during the year, thanks to store refurbishments and cost reductions. At Franprix, sales stabilised, falling 1 per cent. Store renovations and openings and the relauch of private label products were key to its stabilisation. Monoprix saw sales growth of 1.7 per cent to €2.01 billion, thanks to strong performance in food sales and continuing store network expansion.

The international markets provided a strong performance with 8.4 per cent sales growth on an organic basis. With the full consolidation of Brazil-based GPA in the latter half of the year, the group said its international operations increased their contribution to group sales and trading profit to 56 per cent and 66 per cent, respectively, compared to 45 per cent and 52 per cent in 2011.

In Latin America, sales rose 8.8 per cent to €19.25 billion, with Brazil growing 9 per cent to €14.5 billion and Exito Group in Colombia and Uruguay posting turnover growth of 18.3 pre cent to €4.3 billion, with a particularly "excellent" display in Uruguay.

Sales at the group's Asian arm jumped 10.8 per cent on an organic basis, amounting to €3.4 billion, with strong performances in both Thailand (up 9.3 per cent) and Vietnam with the Big C banner.

Jean-Charles Naouri, chairman and CEO said, "The Group underwent some major transformations in 2012, notably with the control of GPA in Brazil and the agreement with Galeries Lafayette on the acquisition of 50 per cent of Monoprix, hence strengthening its profile on international businesses and buoyant formats. For the first time, it has generated operating income in excess of €2 billion. In 2013, confident in the growth of its activity and results, Casino will pursue its strategy of back-to-basics in France and organic growth internationally, while working to maintain its financial structure."

The group also recently announced that it is to supply food products to 1,000 Total petrol stations in France as of 1 April, part of the group's expansion into transport areas.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email