The solid results and strong cash generation allowed Carrefour to hand investors a 55% dividend hike to 0.87 euros per share and launch a new share buyback scheme worth 700 million euros, the company said.
"In 2024, the group should see a more favourable market environment in Europe with the ongoing recovery of consumers' purchasing power," Finance Chief Matthieu Malige told reporters, adding Carrefour plans to keep cutting prices this year in France to be more competitive.
In the closely-watched French market where Carrefour has been facing tough competition from rivals such as unlisted Leclerc, operating profit grew 18.5% to 988 million euros last year.
In a context of high inflation this reflected a good commercial performance, strong cost savings and increased private label penetration, the company said.
In Brazil, Carrefour's second-largest market, however operating profit fell 26.9%, weighed by one-off costs from the integration of Grupo BIG and losses at converted stores in the month following their reopening.
Carrefour reported 2023 group recurring operating income of 2.26 billion euros ($2.45 billion), a 9.8% rise at constant exchange rates. Sales reached 94.13 billion euros, a like-for-like rise of 10.4%.
($1 = 0.9246 euros)
(Reporting by Dominique Vidalon, Helen reid Editing by GV De Clercq)
By Dominique Vidalon and Helen Reid
