German department stores operator Metro AG (MTAGF.PK,MTTRY.PK) said its Group sales for the 2012 fourth quarter marginally increased by 0.5% year-over-year to 19.4 billion euros, while it edged down 0.5% in local currency. Excluding Makro UK, sales grew by 1.8%.
In addition, the company backed its 2012 EBIT before special items forecast of around 2 billion euros, which includes a real estate transaction in France in fourth quarter of 2012. Also, METRO GROUP still projects cash flow to improve considerably, and therefore net debt is likely to decline.
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by RTT Staff Writer
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