Carrefour sees 9% Q1 growth

The Bucharest-based Carrefour hypermarket posted sales worth 21 million euros in the first quarter of the year, accounting for a 9% increase in euros as compared to the year-ago period. The first Carrefour hypermarket in Bucharest, opened in 2001, is operated by Hiproma, a joint-venture between French group Carrefour and one of its franchisers – Hyparlo, the group that also manages the Romanian company. Hyparlo disclosed 10.6 million euros in Q1 turnover for its Romanian operations. However, according to Hyparlo officials, sales of the Carrefour hypermarket were double during this period, as the accounting data of Hyparlo record only half of the Romanian company’s results, with the other half registered in the accounting books of the French from Carrefour. ZF