Casino Reports in Line 2Q Results, Suspends Dividend And Maintains Guidance; Shares Fairly Valued
Casino Group reported a second-quarter sales update with group revenue up 3.5% on an organic basis, broadly in line with our annual expectations. Management confirmed its annual guidance (10% trading profit growth, excluding property, EUR 500 million free cash flow in France before dividends and financial expenses, France net debt less than EUR 1.5 billion by the end of 2020, among others). Management also announced a suspension of the dividend in 2020 (a total saving of EUR 500 million over 18 ...Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
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