French supermarket chain Carrefour has made a significantly bigger profit in the first half of 2015 compared to the year before, with particularly its South American business performing very well.
Growth in Europe
In the first 6 months of 2015, the group's total turnover reached 37.7 billion euro, up 5.2 % from last year. On a like-for-like basis, turnover grew 2.9 %, while net profit soared 17.5 % to 233 million euro.
European like-for-like turnover grew 1.3 %: (home territory) France's turnover grew 1.8 %, while the like-for-like turnover growth elsewhere in Europe reached 0.3 %. All countries contributed to the growth, but particularly Spain and Italy excelled.
The largest growth is once again for its South American operations as turnover spiked 12.4 % and 15.5 % on a like-for-like basis. Asian turnover also grew 9.3 %, but like-for-like turnover dropped 9.7 %, partly because of slower economic growth in China. Carrefour is now working on a long-term strategy that should help improve local turnover.