Metro Group

Metro Group sales were down 2.2% for the first nine months of the year

Metro Group has said it is “confident for the upcoming Christmas trading period” despite reporting a 2.2% drop in turnover to €46.3bn for the first nine months of 2013.

Adjusted for portfolio changes and currency effects, sales rose 0.9%.

Its wholesale division Metro Cash & Carry reported a 2% drop in sales to €22.6bn, but said that adjusting for the divestment of Makro UK to Booker earlier this year, sales came in “roughly at the level of the prior year period”.

Sales in its Real hypermarket division were also hit by divestments – down 8.3% to €7.3bn – due to divestments in Ukraine, Russia and Romania.

However, there was better news for its Media-Saturn consumer electronics division, where sales rose 0.6% to €14.4bn despite “challenging market conditions” across Europe.

“We have delivered what we promised in the short financial year 2013: we reached our sales target and can confirm our EBIT guidance,” said chairman Olaf Koch.

The company said it expects EBIT before special items to “slightly exceed” the prior year’s level of €706m.