date:Aug 30, 2013
and U.S. investment fund Colony Capital.
Spain, Italy Struggle
The operating margin in France improved by 120 basis points to 2.8 percent of sales, helping to lift the group margin slightly to 2.1 percent, although that still lagged a peer median of 3.4 percent, according to Thomson Reuters data.
A stronger France helped counter a 120 basis points drop in the profitability of the rest of Europe, which accounts for a quarter of sales and was dragged down by austerity-hit Spain and Italy to 0.4