CRERF Carrefour SA (PK)

PARIS , convenience stores (+1.5%) and hard discount (+1.7%) - Sustained growth in Spain (+3.4% on a like for like basis) thanks to promotions and a strong commercial dynamic - Significant growth in sales of own label products (+6% in France, +16.7% in Spain) - Increased contribution from growth markets (28% of sales versus 25% in 2007) . French hypermarket sales down 2.4% Lfl, or 5.5% ex fuel, reflecting: - A fall in food volumes in national brands - An increase in own brand sales - A drop in non-food sales . Acceleration of our operational action plans: - Intensification of promotional activity in the Second Half in our French hypermarkets - Accelerated roll out of Carrefour Market to reach around 150 converted stores at the end of 2008 - Acceleration of our cost reduction plan and tighter screening of capital allocation - Acceleration of store openings in growth markets - Use of Carrefour Property as an improved asset management tool . Our objectives for 2008: - Growth in sales inc-VAT, and on constant exchange rates, in line with 2007 (+7.0%) - Growth in Activity Contribution broadly in line with sales - Generation of EUR1.5bn of operational free cash flow . First Half 2008 outlook: - In H1, we expect Group Activity Contribution to grow by at least 5%. - This represents a significant acceleration in Activity Contribution growth compared to the first half of each of the last 3 years, and reinforces our confidence that we will reach our 2008 targets. To view the full text of this press release, paste the following link into your web browser: www.carrefour.com/english/homepage/index.jsp This information is provided by RNS The company news service from the London Stock Exchange END

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Carrefour (PK) (USOTC:CRERF)
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