Auchan says half-year profit jumps on China restructuring

31st August 2011, Comments 0 comments

French supermarket giant Auchan said on Wednesday its half-year net profit jumped 48 percent to 341 million euros ($492 million), but warned that the outlook for the rest of the year was uncertain.

It said the profit was helped by a 161-million-euro capital gain generated on the restructuring of the partnership operated by the Auchan and Ruentex groups in China.

Auchan's said its consolidated sales rose by 5.8 percent to reach 21.2 billion euros, with 55 percent of sales now outside of France.

French stores posted 3.3-percent sales growth while sales in other western European stores dipped 0.8 percent.

Sales growth remained strong in eastern Europe and Asia continued to grow sharply, rising by 16.8 percent.

© 2011 AFP

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