Metro Profit Rises, Sticks to Outlook for Full Fiscal Year
February 11 2016 - 1:06AM
Dow Jones News
By Ellen Emmerentze Jervell
FRANKFURT--Metro AG said Thursday its net profit in the first
fiscal quarter rose 35% after strong Christmas sales in its home
market in Germany, but the company left its outlook for the full
year unchanged.
Europe's fourth-largest supermarket retailer said net profit
after special items in the three months ended Dec. 31 was 549
million euros ($620 million) Metro said it benefited from its exit
from Vietnam and steady sales despite difficult overall trading
conditions.
"This illustrates clearly that we succeeded in growing more
attractive for our customers overall," Chief Executive Olaf Koch
said.
Metro has in recent months been recovering from years of
slumping sales. Earlier this year, Mr. Koch said the company would
now refocus on creating growth in its core European market.
In January, Metro reported first quarter sales of EUR17.1
billion, flat compared with the corresponding quarter a year
earlier. The company Thursday reiterated its outlook for the fiscal
year.
Write to Ellen Emmerentze Jervell at ellen.jervell@wsj.com
(END) Dow Jones Newswires
February 11, 2016 01:51 ET (06:51 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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