German retailer Metro Group has reported a slump in earnings, as weakening consumer sentiment in Europe hit the group’s 2012 performance.

Metro said that 2012 earnings per share were down 28% to EUR1.89 (US$2.46) for the year. EBIT before special items totalled EUR1.98bn, against EUR2.37bn a year earlier.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In an announcement on Friday (28 February), Metro also revealed that it is cutting its full-year dividend by 26%. 

However, the group remained upbeat on its 2012 sales, emphasising revenue for the 12 months was up 1.2%. Metro added it has invested in a restructuring and cost-cutting programme that is designed to improve profitability. The retailer reports its full 2012 results on 20 March.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now