Metro: keeps 2018 outlook despite Russia woes
(CercleFinance.com) - German retailer Metro said it achieved a "solid" performance in the nine months to the end of June 2018, posting slight like-for-like sales growth.
The group has increased its like-for-like sales by 0.7% over the period, while EBITDA - excluding real estate transactions - fell to 1,063 million euros from 1,121 million euros over the first nine months of the previous financial year.
"The third quarter confirms the positive trend in the vast majority of our business entities," said Olaf Koch, chairman of the group's management board.
However, Metro said like-for-like sales in Russia over the first nine months declined significantly (-7%), mainly due to negative currency effects.
The retailer confirmed its outlook for financial year 2017/18, expecting EBITDA to increase slightly compared to last year's result.
Clearly appreciating these announcements, investors bought the share this morning in Frankfurt, sending it up 7.5% in morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group has increased its like-for-like sales by 0.7% over the period, while EBITDA - excluding real estate transactions - fell to 1,063 million euros from 1,121 million euros over the first nine months of the previous financial year.
"The third quarter confirms the positive trend in the vast majority of our business entities," said Olaf Koch, chairman of the group's management board.
However, Metro said like-for-like sales in Russia over the first nine months declined significantly (-7%), mainly due to negative currency effects.
The retailer confirmed its outlook for financial year 2017/18, expecting EBITDA to increase slightly compared to last year's result.
Clearly appreciating these announcements, investors bought the share this morning in Frankfurt, sending it up 7.5% in morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.