Carrefour has announced a share buyback worth €750mn and lifted its dividend in a sign of confidence that the turnround at the French food retailer is gathering pace.
The group led by chief executive Alexandre Bompard on Wednesday also said it would aim to generate net free cash flow of “above €1bn” this year after delivering €1.2bn in 2021, which was ahead of analysts’ expectations.
“This is a strong performance with operating profit growing well and market share gains in our key countries,” said Carrefour chief financial officer Matthieu Malige. “The move to increase the returns to shareholders shows how we are confident for 2022.”
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