Metro Group today (30 October) posted a net profit of EUR214m (US$282.5m) for its third quarter on the back of favourable currency effects and strong sales in Eastern Europe and Asia.
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This compares to a loss of EUR40m in the same period a year earlier.
Sales increased 6.5% to reach EUR16.3bn from EUR15.3bn in 2007, while operating profit reached EUR361m from EUR339 in the comparable period last year.
Business in Eastern Europe continued to develop “dynamically”, with sales in the first nine months of 2008 growing 19.3% to EUR12.9bn. In the third quarter 2008, the growth rate slowed slightly, but remained on a high level of 18.1%.
Metro said it projects sales growth of more than 6% for the group during the current financial year and plans to open around 40 new Metro Cash & Carry stores, 70 Media Markt and Saturn stores and around 15 Real hypermarkets.
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