Metro Group ends year with modest Q4 | Progresiv
The Metro Group has reported modest gains for its year-ending fourth quarter, with its Cash & Carry and Real banners just managing to offset a poor performance at its Media-Saturn unit. 
For the quarter, sales edged up 0.2% on a constant-currency basis to 14.2 billion euros (-0.5% reported), with like-for-like sales edging up 0.1%. The results meant Metro’s full-year sales grew by 0.4% on a constant-currency basis to 58.4 billion euros (-1.4% reported), on LFL growth of 0.2%.
In the fourth quarter, the Cash & Carry unit reported a 1.3% rise in sales to 7.4 billion euros on a constant-currency basis (flat on a reported basis), with LFL sales up 1.4%. The group noted that it managed to grow sales despite disposing of some stores, and was helped by the acquisition of Rungis Express and Classic Fine Foods.
The Real hypermarket banner saw sales decrease by 1.6% to 1.8 billion, hurt by sore closures, although LFL sales were up 0.3%, helped partly by successful advertising campaigns.
And the Media-Saturn electronics unit saw sales decline 0.7% on a constant-currency basis to 5.0 billion euros (-1.0% reported), even as LFL sales were down 2.0%. The group reported weak demand in Germany and Western Europe, although Eastern Europe reported gains. Volumes were hurt by factors such as delays in the “supply of important products”.
Olaf Koch, Chairman of the Management Board, said Metro had made “significant progress in transforming the company”, citing the “positive development of our growth drivers online and grocery” as proof. He reiterated the group’s forecast for underlying operating profit for the year. (www.kamcity.com)
