Carrefour profit rises, keeps targets

Carrefour, the world's second-largest retailer, posted a 5.5 percent rise in first-half operating profit, lifted by strong performance in Latin America growth markets, and reiterated its 2008 targets.
Chief Executive Jose-Luis Duran told a conference call that sales in French hypermarkets were slightly better in July and August than in the first half.
Operating profit rose 5.5 percent to 1.404 bln euros, in line with an average forecast of 1.401 bln euros in a Reuters poll of 11 analysts.
In July, when it published its first half sales, Carrefour forecast a 5 percent increase in first-half operating profit.
Carrefour is implementing a plan to cut prices on 300 products as its shoppers are feeling the pinch of food inflation and competition with discounters such as German owned Aldi or Lidl and the Leader Price unit of French rival Casino.
The group said net profit rose 1.2 percent to 750 mln euros, below an average forecast of 761.5 mln euros in a Reuters poll of analysts.
Carrefour, which issued a profit warning at the end of June, repeated its full-year financial targets of operating profit growth in line with sales, revenue growth at constant exchange rates in line with 2007 and operational free cash flow of 1.5 bln euros.