February 13, 2018 / 6:37 AM / a year ago

Metro reports flat Q1 profits despite Russia fall

BERLIN, Feb 13 (Reuters) - German retailer Metro managed to make up for a drop in quarterly profits at its Russia business by an absence of restructuring expenses at its Real hypermarkets and other one-off income, confirming on Tuesday its full-year forecasts.

Metro said earnings before interest, taxation, depreciation and amortisation (EBITDA) for its fiscal first quarter was flat at 608 million euros ($749 million), although the figure for its Russia unit fell 11 percent to 108 million euros.

Metro last month reported a 9 percent fall in sales at its cash-and-carry business in Russia, which has traditionally contributed a big chunk of operating profits, although it saw an improvement in same-store sales at its core German wholesale unit and its hypermarkets stabilised. ($1 = 0.8116 euros) (Reporting by Emma Thomasson; Editing by Maria Sheahan)

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