Retail giant Metro Group saw underlying sales rise over 7% last year thanks to continuing international growth, the Germany-based firm said today (10 January).
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The company booked annual revenue of EUR65.9bn (US$96.7bn), a rise of 7.1% on an organic basis. Including the acquisitions of Wal-Mart Germany and Géant in Poland, Metro Group saw turnover climb 10%.
Metro Group’s international sales rose 13.6% to account for almost 58% of its business. Sales in Eastern Europe, Asia and Africa jumped “significantly” by around a quarter, Metro Group said.
“The significant 2007 sales growth is a good foundation for the further long-term value enhancement of Metro Group”, said CEO Dr. Eckhard Cordes.
Sales in Germany rose 5.5% to EUR27.9bn but the increase was largely to the integration of the former Wal-Mart stores. Stripping out that part of the business, sales inched up 0.4%.
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By GlobalDataMetro Cash & Carry, which has been expanding into new markets in recent months, saw sales rise 6% last year, the company said.
Metro confirmed its forecast of a 6-8% rise in operating profit. The company will issue detailed profit numbers in March.
