French supermarket chain Cora’s results remained stable for its fiscal year 2016, outperforming its competitors that had to deal with lower turnover.
Carrefour collaboration
Cora’s turnover reached 4.7 billion euro for its full fiscal year, down only 0.4 % compared to the year before. Back in 2015, its turnover slumped 3.2 %, so it was quite an improvement. Despite the slight drop, the company should no despair, because its competition suffered a lot more. Carrefour’s turnover dropped 2.6 % and Auchan also had to deal with a slump that exceeded 2 %.
Cora also managed to increase its margins, which resulted in an improved operating profit, despite lower turnover. Compared to 2016, its operating profit grew 4.5 % to 161 million euro. The main reason for this boost is its purchase alliance with Carrefour, which has helped to increase its operational margins by nearly 23 %.
Its net profit was exceptionally high, at 418 million euro, but that was mainly because of its real estate division Galimmo’s launch in September 2016. This added another 397 million euro to its revenue stream.
