Colruyt forecasts small profit growth

Colruyt forecasts small profit growth

In its report on the first half of its fiscal year 2014-2015, Belgian Colruyt Group has confirmed it will equal or slightly improve last year's net profit numbers.

Margins under pressure

Turnover grew 3.9 % to 4.4 billion euro in the first six months of the fiscal year, which has also helped bump gross profit 2.4 % to 1.085 billion euro and net profit 2.6 % to 180.7 million euro.

 

Colruyt Group has therefore stuck by its previous full-year forecast, although it is not entirely optimistic: "We do not expect economic climate and consumer confidence to recover anytime soon. On top of that, we expect the price and margin pressure to continue in the second part of the year."

 

Colruyt's market share grew slightly, up 0.2 % to 26.36 %. Turnover in its Belgian and Luxembourg stores grew 2 % because of additional stores, while Dreamland and Dreambaby's turnover grew 10 %.

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