Stock Groups

French retailer Casino vows to boost cash as 2021 operating profit falls -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This is the logo for Casino supermarket, Cannes 9th November 2019. REUTERS/Eric Gaillard

PARIS, (Reuters) – Casino Friday stated that the company is optimistic it will recover its sales momentum this year in France due to the ease in pandemic and increase cash flow generation. After reporting a 12% decrease in group operating profit in 2021 to 1.193 Billion Euros ($1.34 Billillion), Casino reported a 12% decline in 2021 group operating profits to 1.193 Billion euros.

French retailer, which had been selling assets to reduce its debt, stated that it now intended to close the last 1.3 million euros of its 4.5 Billion Euro disposal plan before the end 2023.

This was due to a 14% decrease in core profits in France, which saw sales fall 5.4% per store. However, sales in Brazil, Casino’s second largest market, remained strong.

The total group sales were 30.549 million euros. This is 0.8% less than the same-store average.

($1 = 0.8915 euros)

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]