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Carrefour Reports 15 Percent Rise in Profits

PARIS - French supermarket operator Carrefour today reported a 15 percent rise in 2001 profits, Reuters reports. However, Europe's largest retailer said it remains cautious on its 2002 outlook amid economic uncertainty.

Carrefour said net profit after goodwill, but before exceptional items, rose 14.9 percent to 1.207 billion euros in 2001 from 1.050 billion in 2000. Its operating profit before goodwill was 2.826 billion, vs. 2.725 billion last year.

The company has been working to win back market share, particularly in France, after it slipped during the integration of retailer Promodes with which it merged in 1999, according to Reuters.

The Associated Press reports that Carrefour plans to open some of its deep-discount stores, called Dia, in China in the future. Carrefour already has 27 hypermarkets in China.
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