Home Lifestyle The Bank of France revises its forecasts upwards | Portugal’s TAP Airlines returns to profit | Kingfisher (Castorama and Brico Depôt) down

The Bank of France revises its forecasts upwards | Portugal’s TAP Airlines returns to profit | Kingfisher (Castorama and Brico Depôt) down

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News ➡ Bank of France It has revised its growth forecast for France in 2023 upward, and now relies on it 0.6% increase in GDPagainst 0.3% planned in advance. This improvement is mainly due to Low inflation than expected, especially for energyand high global demand. but, conversion rate And borrowing rates Less trending than in December and this good news can disappoint. The Bank of France is also lowering its inflation forecast for 2023. Growth is expected to continue in 2024 and 2025, driven by An increase in household consumption And affiliate wages. The Bank of France is confident in the resilience of European banks and does not expect any lasting impact on the economy from tensions over pension reform.

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No. Today ➡ 65.6 million euros | TAP Portuguese Airlines Returning to profit in 2022, with a net profit of €65.6 million, after a loss of approx. 1.6 billion in 2021. The turnover amounted to approximately 3.5 billion euros, up 151% compared to 2021. The Portuguese airline TAP has set its goal of returning to profits in the Brussels-imposed bailout for 2024. Christine Ormeris-WidenerTAP’s CEO said the performance is a “historic record” for the company. The company was re-nationalized in 2020 and subject to restructuring planto Carrying 13.8 million passengers in 2022reaching 81% of the 2019 level prior to the Covid-19 pandemic.

in decline ➡ Kingfisher’s net profit fell 44% | the group KingfisherWhat is with you Castorama And Bricco warehousereported a 44% drop in its annual net profit, to 471 million poundsThis decline is expected to continue for the current fiscal year. Turnover decreased slightly by 0.9%, with a decrease in sales in France and on United kingdombut an increase in Poland. The group also depreciated its assets in the amount of 139 million pounds and plans New stores opening in 2023/2024. Kingfisher expects the industry to grow and generate free cash flow in excess of $500 million annually from 2025/2026.

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