Belgium's Colruyt maintains forecast despite brilliant first half
Net profit in the first six months of its calender until 31 March came in at €176.2 million, above the €163 million expected in a Reuters analysts' poll. Operating Profit for the same period was up 10.4% to €254.7 million.
Revenue at Colruyt increased 4.6% to €4.25 billion. In a statement issued by the company, which can be read here, it noted that its good performance came due to "keeping cost growth under control". Sales in Belgium rose 4%, while in France, where they hold a smaller market share, sales rose 11.3%.
The group repeated the outlook given in September that its net profit for the current financial year would be unchanged from last year, taking a far more cautious stance than analysts about its prospects.
Source: esmmagazine.com
