PARIS — Carrefour, the world’s second-largest retailer after Wal-Mart, on Thursday said first-half net profits rose 10.8 percent to 706 million euros, or $868.1 million, the fruit of aggressive price reductions and store openings.
The results exceeded most analysts’ expectations and signaled improved trading in the firm’s important home market of France, where sales grew 6.3 percent to 17.94 billion euros, or $22.06 billion.
Overall, sales in the first six months through June 30 gained 8.8 percent to 37.29 billion euros, or $45.85 billion. Currency conversions were made at average exchange rates for the period.
“Our sales are growing again,” the firm said in a statement. “We are growing faster in a more targeted way.”
The figures appeared to signal Carrefour is back on track after a period of difficult trading defined by fierce competition and weak consumer spending in France.
Carrefour confirmed it was on line to open 100 hypermarkets before yearend. It pledged that full-year sales and profits at constant exchange rates would be greater than last year.