Celesio sees adj EBIT returning to growth in 2014

FRANKFURT, March 18 Tue Mar 18, 2014 2:48am EDT

FRANKFURT, March 18 (Reuters) - Celesio, the German drugs distributor being taken over by its U.S. peer McKesson, expects its underlying operating profit to return to growth this year as it expands its network of pharmacies.

It said on Tuesday that it saw its 2014 adjusted earnings before interest and tax (EBIT) increasing slightly after shrinking by almost 5 percent to 423.6 million euros ($590 million) amid pricing pressure in Germany and currency effects from abroad in 2013.