Record profits at Makro parent thanks to Shape 2012 restructure
Metro Group, the German parent group of cash & carry Makro, has reported record full-year profits thanks to its ongoing restructuring programme Shape 2012.
Full-year earnings before interest and tax rose nearly 20% to €2.4bn (£2.09bn), with sales up 2.6% to €67.3bn in 2010.
The company's wholesale arm, Metro Cash & Carry, reported a 1.6% increase in sales to €31.1bn, but sales in Western Europe fell 1.3%.
The group revealed that it plans to enter Indonesia in 2012.
“We have achieved record earnings during the greatest restructuring in the company’s history and at the end of a severe economic crisis,” said Metro chief executive Eckhard Cordes.
“At the half-time of Shape 2012 we can already say that we are now stronger than before the crisis.”
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