Casino 2018 Profit Fell; Keeps Dividend
14 Mars 2019 - 8:19AM
Dow Jones News
By Max Bernhard
Casino Guichard-Perrachon SA (CO.FR) on Thursday reported a drop
in 2018 net profit and said it would keep its dividend stable.
The French retailer said its net profit for the year fell 9.4%
to EUR318 million euros ($359 million), compared with EUR351
million a year earlier, as a result mainly of a higher effective
tax rate. Sales fell 2.4% to EUR36.60 billion.
Casino said over the next three years it aims to open 300 new
premium and convenience stores and become the number-one seller of
organic products. It targets annual growth in trading profit for
its retail business of 10%, and free cash flow of EUR500 million
per year.
Casino said it will propose an unchanged dividend of EUR3.12 a
share.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
March 14, 2019 03:04 ET (07:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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