Groupe Casino Boosts Trading-Profit Guidance

By Marc Bisbal AriasFeaturesDow Jones Newswires

Casino Guichard-Perrachon SA (CO.FR) on Thursday reported a sharp rise in headline trading profit for the first half and raised full-year guidance after a strong performance from its retail units.

The French retailer said it now expects headline trading profit--its preferred performance metric, which is operating profit before central costs--to rise at least 20% over the year based on June 30 closing exchange rates. This compares with previous guidance of 10%.

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Casino said its France retail segment boosted first-half performance, with improved results at its Casino Supermarkets, Geant and Leader Price units.

The company's trading profit for the six months ended June 30 was 466 million euros ($546.5 million), up from EUR281 million a year earlier, while sales rose 9.7% to EUR18.6 billion.

Casino booked a net loss of EUR86 million in the period compared with a profit of EUR2.58 billion a year earlier, when it took in EUR2.71 billion through the sale of appliance chain Via Varejo SA (VVAR3.BR).

Write to Marc Bisbal Arias at

(END) Dow Jones Newswires

August 10, 2017 05:48 ET (09:48 GMT)