December 10, 2019 / 6:37 AM / 4 months ago

CORRECTED-BRIEF-Colruyt Group H1 EBIT Up At 265 Million Euros

(Correct to add period in headline, source in body text)

Dec 9 (Reuters) - Etablissementen Franz Colruyt NV :

* H1 EBIT (PUBLISHED) EUR 265 MILLION VERSUS EUR 253 MILLION YEAR AGO

* COLRUYT GROUP EXPECTS THE RETAIL MARKET TO REMAIN COMPETITIVE IN 2019/20

* GROUP DOES NOT ANTICIPATE A SIGNIFICANT UPTURN IN THE ECONOMIC CLIMATE FOR THE CONSUMER IN BELGIUM IN THE SHORT TERM

* H1 PROFIT FOR PERIOD PUBLISHED EUR 194 MILLION VERSUS EUR 208 MILLION YEAR AGO

* COLRUYT GROUP EXPECTS CONSUMER CONFIDENCE TO REMAIN SLIGHTLY POSITIVE IN FRANCE

* GROSS MARGIN IMPROVES FROM 26.3% TO 26.6% IN THE FIRST SEMESTER

* NET CASH AND CASH EQUIVALENTS INCREASED BY EUR 146 MILLION TO EUR 276 MILLION AS AT 30 SEPTEMBER 2019

* H1 REVENUE (PUBLISHED) EUR 4.72 BILLION VERSUS EUR 4.60 BILLION YEAR AGO

* GROUP CONFIRMS ITS RESULT OUTLOOK EXCLUDING ONE-OFF EFFECTS

* H1 GROSS MARGIN INCREASED TO 26,6% OF REVENUE

* EXCLUDING ONE-OFF EFFECTS, COLRUYT GROUP EXPECTS CONSOLIDATED NET RESULT OF FY 2019/20 TO SLIGHTLY EXCEED LAST YEAR’S NET RESULT (EUR 372 MILLION EXCLUDING ONE-OFF EFFECTS)

* COLRUYT GROUP DOES NOT EXPECT THE ADOPTION OF IFRS 16 TO HAVE A MATERIAL IMPACT ON NET RESULT

* COLRUYT GROUP HAS INTENTION TO TRANSFER CERTAIN ASSETS RELATED TO EOLY’S RENEWABLE WIND ENERGY ACTIVITIES TO THIS ENERGY HOLDING IN THE FINANCIAL YEAR 2020/21.

* MARKET SHARE IN BELGIUM EXPANDS TO MORE THAN 32,5% IN THE FIRST SEMESTER OF 2019/20 (32,4% IN THE FIRST SEMESTER OF 2018/19) Source text: bit.ly/2shd1wP Further company coverage: (Gdansk Newsroom)

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