germany\s metro profits hit by oneoff charges
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

Germany\'s Metro profits hit by one-off charges

Arab Today, arab today

Arab Today, arab today Germany\'s Metro profits hit by one-off charges

Frankfurt - AFP

German retail giant Metro said Wednesday its profits were hit by one-off restructuring charges and portfolio changes last year, but it is pencilling in "moderate" sales growth this year. Metro said in a statement that its bottom-line net profit tumbled to 3.0 million euros ($3.7 million) in 2012, down from 631 million euros a year earlier. "High one-off expenses... have impacted earnings in 2012," said chief executive Olaf Koch. "We have implemented fundamental changes during the past year. This came at a price and was also painful in many ways -- but we are clearly changing for the better. In 2012, we have created first conditions for long-term growth," Koch said. Underlying profit, as measured by earnings before interest, tax and special items (EBIT), declined by 16.7 percent to 1.976 billion euros in 2012 on a 1.2-percent increase in revenues to 66.7 billion euros. Looking ahead to the current business year -- which will be shortened to just nine months as Metro switches from a calendar year to a fiscal year running from October to September -- the retailer said it expected to generate "moderate growth in sales in spite of the continuing difficult business conditions." In the year following that, from October 2013 to September 2014, "Metro expects to see this moderate growth in sales continue compared with the respective period for the previous year," it said. Earnings in the short financial year 2013 would be "impacted by the uncertain economic situation," Metro cautioned, saying it was expecting EBIT before special items to "increase compared to the level achieved in the corresponding period of the previous year of 704 million euros. "This projection is based on the assumption of higher income from the sale of real estate assets compared to the year-earlier period," Metro added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

germany\s metro profits hit by oneoff charges germany\s metro profits hit by oneoff charges

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

germany\s metro profits hit by oneoff charges germany\s metro profits hit by oneoff charges

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday