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Carrefour Group Swings To H1 Profit

French food retailer Carrefour Group (CRERF.PK,CRRFY.PK,0NPH.L) on Wednesday reported net income for the first-half of 2021 of 298 million euros, compared to net loss of 25 million euros last year.

Adjusted net income rose to 337 million euros or 0.42 euro per share, from 250 million euros or 0.31 euro per share last year.

Sales including VAT increased slightly to 38.32 billion euros from 38.08 billion euros last year. On a like for like basis, sales increased 3.9%.

The company said sales performance reflects a solid dynamic of market share gains in key countries and the relevance of its multi-format and omnichannel model.

The Board of Directors has also approved the launch of an additional buyback program of Carrefour shares for a maximum amount of 200 million euros, with a view to canceling those shares.

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