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UPDATE 1-Spain's Dia says Iberia, emerging markets offset France
July 29, 2013 / 8:16 AM / 4 years ago

UPDATE 1-Spain's Dia says Iberia, emerging markets offset France

(Adds details, share price)

MADRID, July 29 (Reuters) - Spain’s Dia, the world’s No. 3 discount grocer, on Monday said a strong performance in Iberia and emerging markets offsett weakness at its French business in the first half.

Net profit was 49 million euros ($65 million), down 0.7 percent from the same period in 2012.

Adjusted net profit, which includes the sale of a Turkish business in April, was 83.6 million euros, up 15.3 percent.

Dia has flourished in its recession-hit home market thanks to its discounting. Sales in Spain grew 5.1 percent to 2.54 billion euros during the period.

This, along with strong growth in Brazil, Argentina and China, helped Dia post a 5.5 percent increase in net sales, to 4.86 billion euros.

First half net sales fell 12 percent in France to 1.2 billion euros.

Shares in Dia rose 2.55 percent to 5.916 euros by 0800 GMT. ($1 = 0.7539 euros) (Reporting by Julien Toyer; Editing by Louise Ireland)

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