July 27, 2017 / 5:48 AM / a year ago

Retailer Casino nudges up guidance as H1 profits rise

PARIS, July 27 (Reuters) - Supermarket retailer Casino nudged up its full year financial guidance on Thursday as stronger results in its main French market and in Brazil boosted its first-half earnings.

Casino said it was now expecting growth of more than 15 percent regarding food retail trading profits in France, and also expected a contribution from its property development activities of around 60 million euros.

Casino had previously targeted 15 percent growth this year for operating profit at its food retail operations in France.

Casino, which reported a 36 percent rise in first-half earnings before interest, tax, depreciation and amortisation (EBITDA) to 600 million euros ($705 million), added it expected full-year growth of at least 20 percent in consolidated trading profit.

$1 = 0.8516 euros Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon

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