Carrefour satisfied with slight margin growth

Amid a challenging geopolitical environment, Carrefour posted solid revenue growth in its three core markets—France, Spain, and Brazil—during the first half of the year, although its operating profit fell slightly short of expectations.

Improvement in the home market

Carrefour closed the first half of the year with revenue of 43,789 million euros. Like-for-like revenue growth was 2.1%. Operating profit (ROC) for the half-year amounted to 757 million euros. On a like-for-like basis, this represents a 4% increase compared to the same period last year. The operating margin was 1.9%, representing an increase of 4 basis points. This may be partly due to the divestiture of operations in Italy and Romania. The retailer expressed satisfaction, although some analysts had expected slightly better results. Net income amounted to 30 million euros.