COLOGNE Dec 12 German retailer Metro
said it aimed for a significant improvement in profitability for
2013/14 as a restructuring plan starts to deliver after meeting
its own guidance for operating earnings for the first nine
months of 2013.
Metro on Thursday reported earnings before interest and tax
(EBIT), before special items, of 728 million euros ($1 billion)
for the shortened 2013 business year to September. It had hoped
to "slightly exceed" the 706 million euros of the prior year.
Metro said it expected "slight absolute sales growth" for
its new Oct. 1, 2013 to Sept. 30, 2014 reporting year, while
EBIT before special items should "markedly exceed" a comparative
level of 1.7 billion euros from the 2012/13 period.
Europe's fourth-biggest retailer, which runs cash and
carries, supermarkets, department stores and Europe's biggest
consumer electronics chain, had already reported third-quarter
sales fell 2.1 percent to 15.5 billion euros.
($1 = 0.7251 euros)
(Reporting by Emma Thomasson)