French retail group Carrefour has announced strong H1 results and vows to continue investing towards its 2016 target of €2.5-2.6 billion.
The company, best known for its giant hypermarkets across France and other countries in mainland Europe, recorded a growth in organic sales of 2.9 percent, with return on investment growth going up for the eight consecutive half, coming in at 5.3 percent.
Total H1 sales hit €40.6 billion, thanks largely to resilience seen in France and strong growth in emerging markets such as Latin American and Taiwan.
Carrefour noted the following investments during the period:
As well as committing to the €2.5-2.6 billion investment for the year, the company will also aim to increase its cash flow and maintain its BBB rating.
Read the July EURO 2016 issue of Business Review Europe magazine.