MTTRY Ceconomy AG (PK)

By Natascha Divac

FRANKFURT--German retail giant Metro AG (MEO.XE) on Wednesday reported an improvement in its fiscal second-quarter earnings, helped by strong business in Germany, although revenue was hit by negative exchange-rate effects.

Europe's fourth-largest retailer said its net loss in the three months ended March was 65 million euros ($73.9 million), compared with a loss of 394 million a year earlier. Earnings before interest and taxes before special items climbed to EUR11 million from a loss of EUR24 million. Sales fell 0.9% to EUR13.6 billion, due in part to exchange-rate effects, in particular due to the weak Russian ruble. Analysts expected EUR13.48 billion in sales.

Metro has in the past six months recovered from several years of sliding sales amid geopolitical turbulence and currency-exchange losses.

The retailer confirmed its guidance for the full year. It still expects sales and adjusted EBIT to increase slightly.

Write to Natascha Divac at natascha.divac@dowjones.com

(END) Dow Jones Newswires

May 11, 2016 02:26 ET (06:26 GMT)

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