Carrefour on Thursday released the annual results up sharply, confirming its continued operational turnaround started there are two and a half years under the leadership of its CEO Georges Plassat.
The distributor saw its current operating income increase by 6 , 7% to 2.387 billion euros – a figure consistent with the Reuters consensus – and climbing by 10.6% at constant exchange rates. “This is a very good year for Carrefour, which confirms the relevance of the project deployed in over two years,” said Chief Financial Officer Pierre-Jean Sivignon, during a conference call, adding that it was too early to point to make a profit forecast for 2015.
Adjusted net income Group share climbed from 11.9% to 1.040 billion euros and net income from continuing operations of 24, 6% to 1.182 billion. With these digits, the group raised its dividend to 0.68 euros, against 0.62 a year earlier.
Carrefour had already reported a solid increase in annual sales, marked with a positive performance in France in all its formats, stabilization of its sales in Europe (excluding France) for the first time in more than six years and a brilliant Advanced Brazil.
He said that investments should reach 2.5 to 2.6 billion euros in 2015, from 2.4 billion last year, where it has invested heavily in the renovation of its stores in France and Brazil and computer systems to boost sales coupled online and in its stores (multi channel).
The group said it expects a further increase in free cash flow this year (after 306 million in 2014) and on a continuing its financial discipline allowing it to maintain its BBB + rating. Carrefour announced the return of its CEO, convalescent since early February after surgery, by the end of April.
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