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Metro: like-for-like sales up 0.5% in Q4.

(CercleFinance.com) - German food retailer Metro, which has recently demerged from consumer electronics group Ceconomy, increased its like-for-like sales by 0.
5% in the financial year 2016/17, the company said on Friday.

Overall, sales rose by 1.6% to 37.1 billion euros over the fiscal year ended 30 September, the group said.

According to the same preliminary figures, Metro's like-for-like sales saw a year-on-year increase of 0.5% in the fourth quarter, with total sales rising by 0.7% to 9.2 billion over the quarter.

The new Metro - which comprises the wholesale and food businesses of the previous Metro - split from Ceconomy over the summer.

Its shares, which are now listed on Germany's MDAX index, are currently down 1.3% at under 17.7 euros.

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