French retailer Casino vows to boost cash as 2021 operating profit falls
25/02/2022 06:34
PARIS, Feb 25 (Reuters) - Casino CASP.PA on Friday said it
was confident it would recover sales momentum this year in
France as the pandemic eases and improve cash flow generation
after reporting a 12% fall in 2021 group operating profit to
1.193 billion euros ($1.34 billion).
The French retailer, which has been selling assets to cut
debt, said it now aimed to complete the final 1.3 billion euros
chunk of its 4.5 billion euros disposal plan by the end of 2023.
The group's profit fall reflected a 14% decline in the core
profit of the French market, where sales fell 5.4% on a same
store basis, while sales remained robust in Brazil, Casino's
second-largest market. urn:newsml:reuters.com:*:nS8N2MH01U
Total group sales reached 30.549 billion euros, down 0.8% on
a same-store basis.
($1 = 0.8915 euros)
(Reporting by Dominique Vidalon , editing by Tassilo Hummel)
((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters
Messaging: dominique.vidalon.reuters.com@reuters.net))