Carrefour posts profit drop


9 March 2006 – Paris (FRA): Carrefour has reported a 16 per cent drop in net income in 2005 after one-time charges.
The company said net income fell to €1.44 billion ($1.72 billion) after taking €372 million in charges. Before those charges, the company’s earnings before interest and tax amounted to €1.18 billion compared to €1.79 billion the year before.
The world’s second largest retailer said it plans to spend €10 billion over the next three years to open new stores and strengthen its brand name. This will include the opening of 100 new hypermarkets in 2006, more than twice the average number of openings between 2000 and 2004.