February 9, 2018 / 6:06 AM / 14 days ago

Ceconomy aims to cut 30 mln euros of administrative costs

FRANKFURT, Feb 9 (Reuters) - German consumer electronics retailer Ceconomy said it aimed to cut costs in its country units and its holding by 30 million euros ($36.8 million), it said on Friday.

The group, which runs Media Markt stores and split from German retail conglomerate Metro in July, also published full first-quarter results, having reported a 16 percent drop in operating profit last month due to price reductions around Black Friday and costs to set up its holding company.

$1 = 0.8160 euros Reporting by Maria Sheahan; Editing by Edward Taylor

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