German retail giant Metro has warned it will face a one-off cost of up to EUR180m (US$245m) due to the planned cut in income tax in the country.

The company said today (6 July) it would record the charge of EUR160-180m during the third quarter of the year.

Metro said the charge would not affect its profit forecast for 2007. “Metro Group’s earnings outlook is based upon earnings before interest and taxes (EBIT) and remains thus unaffected.”