Carrefour China revenues grow 10.8%

Carrefour Group, the European retail giant, has revealed a 10.8 percent surge in operating revenues in China to 5.58 billion ($7.4b) euros during 2012.

Globally the company said in its annual report that revenues were 86.56 billion euros, a one percent rise from the year earlier, but the slowest pace since 2005.

Carrefour had operational revenues of 2.96 billion euros in 2007 in China, but the report showed during the fourth quarter of 2012 alone those were 1.31 billion euros, an increase of 6.4 percent year-on-year, against global growth of 0.8 percent to 22.85 billion euros.

Carrefour had 218 outlets in China by the end of 2012 and said it plans to add 20 each year in the market.