Casino : Good Q2 2018 for sales, the challenge is still deleveraging
>Q2 2017 sales 1.6% higher than we expected - Casino’s consolidated sales came to € 8.92bn in Q2 2018, down -3% on a reported basis but up +5.2% organically (vs +3.5% estimated) and +3.2% LFL (vs +1.6% estimated). France came in 1.3% ahead of our forecast at € 4.76bn, with growth of +0.8% on a reported basis, +1.3% organically and +1.8% LFL (vs +0.5%e). Latam (€ 3.75bn, -8.1% reported, +9.7% organic and +4.4% LFL) also beat our estimates by 1.9%e (we expected LFL grow...Fermiere Du Casino Municipal Cannes SA. Fermiere du Casino Municipal de Cannes SA (SFCMC) is a France-based company that operates casinos, hotels and other leisure facilities found within vacation resorts. The Company, which leases its facilities and equipment from Group Lucien Barriere, operates two casinos: Barriere de Cannes Croisette, and Barriere les Princes, and two hotels: a five-star Majestic, and a four-star Gray d'Albion. The Company also operates other leisure facilities, both on-site and in other locations, including restaurants, function and meeting rooms, swimming pools, tennis courts and a discotheque, and offers rental of shops. The SFCMC has five subsidiaries: Hotel Majestic (SIEHM), Hotel Gray d'Albion SA (HGAC), CASINO BARRIERE LES PRINCES (SCLC), SOCIETE D'EXPLOITATION DE LA PLAGE MAJESTIC (SEPM) and SCI 8 Cannes Croisette.
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