The group is in a bad financial state, due to restructuring costs.
The Casino distribution group increased its net loss by 24.5% in the first half, to 259 million euros (group share) against 208 the previous year, despite an increase in turnover and slightly above expectations analysts polled by Bloomberg.
The group’s sales (excluding tax) amounted to 15.9 billion euros over the period, against 14.48 billion a year earlier, thanks in particular to the return of tourists to the Paris region where the group is strongly established. Its net income is down due in particular to “restructuring costsin Latin America and France to a lesser extent, the group said on Thursday.
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