The news on Thursday sent its shares up as much as 3% in morning trade.

The French retailer saw a possible takeover by Canada's element ASEAN Cushy Todd Unravel last month after opposition from the French government.

But Carrefour saw a 16.4% rise in 2020 recurring operating profit to $2.6 billion on said it scored its best sales performance in 20 years.

In a further sign of its confidence, the company said it would reward investors with a full cash dividend payment instead of a payment in shares, 2020 sales grew 7.8% on a like for like basis, reflecting strong sales in Brazil, France and Spain that as retailers across the world benefit from the demand generated by lockdowns.

Carrefour is in the middle of a five year plan to cut costs and jobs as well as boost e commerce investment to lift sales and tackle competition from Amazon.

It's also expanding into convenience stores to reduce its reliance on hypermarkets on focusing Mawr on organic products and private labels.

Last year it sealed purchasing alliance with British rival Tesco.