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Groupe Casino boosts net 42 percent

Groupe Casino boosts net 42 percent

French hypermarket operator Groupe Casino said Friday that first-half net income rose 42 percent, boosted by the company's foreign operations.
Net profit rose to euro367 million (US$500 million) compared with euro258 million in the six months through June 30, the company said in a statement. Sales rose 6.2 percent to euro11.55 billion (US$15.7 billion).
"The group's good first-half performance attests to the effectiveness of the differentiation strategy in France and to the enhanced growth profile of the remodeled international business portfolio," the company said.
In France, sales rose 2.9 percent excluding Franprix-Leader Price. Sales from existing businesses gained 14 percent in South America and 9.9 percent in Asia.
Groupe Casino shares gained 1.1 percent to euro73.58 (US$100.41) in Paris.