First-half profits dip at Makro parent Metro

Metro Group, the owner of UK cash & carry Makro, has announced a marginal rise in sales for the past six months.

Total sales at the German giant were up 0.1% in the first half of the year to €31.3bn (£27.3bn). It said like-for-like sales at its Metro Cash & Carry arm were up in the second-quarter “across all regions”.

But profits before exceptional items were down on last year’s mark of €470m at hit €452m.

Metro chief executive Eckhard Cordes said the group’s performance “held up well… despite unfavourable conditions”.

News of the performance comes with Makro’s new board of directors having been set an 18-month deadline to turn around the loss-making business.

Read more
Makro plans to cut salesforce to 80 in restructure move (30 July 2011)
Makro UK gets another new MD in Schwarze (23 July 2011)
Makro: 18 months to turn around business (16 July 2011)