French Retailer Vows To Boost Its Cash As 2021 Operating Profit

Casino on Friday said it was confident it would recover sales momentum this year in France as the pandemic eases and improves cash flow generation after reporting a 12% fall in 2021 group operating profit to 1.193 billion euros ($1.34 billion), Dominique Vidalon reported for Reuters.

Photo Insert: The French retailer has been selling assets to cut debt.

The French retailer, which has been selling assets to cut debt, said it now aimed to complete the final 1.3 billion euros chunk of its 4.5 billion euros disposal plan by the end of 2023.

The group's profit fall reflected a 14% decline in the core profit of the French market, where sales fell 5.4% on a same-store basis.

However, sales remained robust in Brazil, Casino's second-largest market.

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