French retailer Casino said net profits from its majority-owned activities rose by 21.5% to ??262m in 1999, with operating profits up ny 22.3% to ??541m. The group said that this reflected a strong performance in the mature French retail market (up 21% to ??478m) and more dramatic growth outside France. Profits generated from foreign operations improved by a spectacular 153% to ??30m, the group said. In the US, operating results improved threefold, while casino's performance in other countries, notably Argentina, Poland, Uruguay and Thailand (as of 1 July) were "entirely satisfactory."

More than 80% of the ??2.228bn funnelled into capital investment went outside France, and Casino is intending to continue expanding its foreign operations. Turnover rose ny 10.4% to ??15.637bn, dropping to a still reasonable 5.5% on a like-for-like basis and at constant exchange rates.

COPYRIGHT 2000 Agra Europe Ltd.
COPYRIGHT 2000 Gale Group