Metro Group is happy with first quarter

Metro Group is happy with first quarter

German Metro Group is happy with its first quarter results. Turnover, after exchange rate fluctuations, has only grown 0.2 %, but there was a 0.8 % like-for-like turnover increase.

 

Setback in Russia

Metro’s total first quarter turnover reached 10.1 billion euro, which is pretty much the same as a year earlier. Prior to the exchange rate fluctuations, there was a 1.5 % turnover increase and a 0.8 % like-for-like turnover increase. “We had a solid quarter in a challenging market”, Metro’s chairman Olaf Koch said. “The group’s first quarter turnover was in line with our full fiscal year’s forecast.”

 

 

Metro Wholesale performed best, with a 1 % like-for-like turnover increase to 8.1 billion euro. However, the results were not as positive everywhere, because there was a 9 % like-for-like turnover drop in Russia. German turnover grew 2 % but Real’s turnover dropped 0.5 % to 2 billion euro: like-for-like turnover remained stable, despite fewer opening days in the first quarter compared to last year’s first quarter.