August 2, 2018 / 5:44 AM / 4 months ago

Metro Q3 EBIT falls 38 pct amid Russia, Real market woes

BERLIN, Aug 2 (Reuters) - German retailer Metro on Thursday said third-quarter operating profit plunged 38 percent, weighed down by its struggling Russian business and Real hypermarkets in Germany.

Earnings before interest and tax (EBIT) declined to 133 million euros ($154.93 million) from 215 million a year earlier, matching an analyst forecast in a Reuters poll of banks and brokerages.

Quarterly EBIT at its Russia business fell to 58 million euros from 71 million, Metro said, adding the decline in sales has been slowed. Sales at the Real hypermarkets declined 7.2 percent to 1.66 billion euros.

The company affirmed its profit and sales guidance for fiscal 2017/18.

$1 = 0.8584 euros Reporting by Andreas Cremer Editing by Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below