Third consecutive year of faster sales growth
- Group sales grew 7.0% on constant exchange rates versus 6.3% in 2006 and +4.3% in 2005
- Faster growth reflects a stronger consumer offer and the opening of more new m2 through organic growth and tactical acquisitions

Both core and growth markets have contributed
- Sales progressed well in France despite food price deflation for the first three quarters of the year reflecting a very competitive trading environment
- In Europe, Spain, Poland and Romania led like for like growth
- Our growth markets in Asia and Latin America performed very well

Making the brand work harder
- Our re-thinking of the hypermarket model is beginning to pay off as customers respond positively to the roll out of our new generation stores
- We are strengthening the Carrefour brand, focusing on choice, innovation, freshness, and own label as well as maintaining local price leadership
- We are leveraging the strengths of the Carrefour brand through our multi format single brand stategy with first good results in France, as well as in all other markets such as Spain, Poland, Brazil, and Turkey

2007 guidance confirmed
- We will report an increase in Activity Contribution for the full year, broadly at the same rate as in 2006

2008 will be a breakthrough year
- Making our brand work harder, as well as opening more m2 in our growth markets, will help us grow sales by 6 to 8% in 2008, excluding acquisitions; We expect operating profits to grow faster than sales