Carrefour franchisee says Middle East profits up
MAF's retail division, which includes its Carrefour franchises, made an operating profit of 467 million from sales of 8.9 billion dirhams, which were up 15 percent year-on-year.
MAF's Chief Executive Iyad Malas, speaking at the Reuters Retail and Consumer Summit last week, said he expected 2012 revenue growth to be in line with last year when gross revenue rose 10 percent to 19.6 billion dirhams.
The firm said it was reviewing "strategic opportunities" in Saudi Arabia, Abu Dhabi and Azerbaijan, while new developments in Lebanon and Egypt were moving forward. It also plans to open two more Carrefour hypermarkets by year-end, including its first store in Georgia.
Source: in.reuters.com
