German retail giant Metro Group has reported a 2.4% increase in half-year sales.
Sales at the parent of troubled UK wholesaler Makro Cash & Carry rose to €31.2bn during the past six months, with second-quarter sales also up 2.4% to €15.7bn. Profits climbed 16.6% to €470m.
Positive currency effects and the improving economic climate helped boost the figures, chief executive Eckhard Cordes admitted.
“The economic recovery trend is consolidating [and] Metro Group is developing from a solid basis,” Cordes said.
“Even if the crisis is not over yet, we see clear silver linings on the horizon in an increasing number of countries.”
Makro launches Spend and Save loyalty scheme (24 July 2010)
Makro depot revamps to hit 24 in total (17 July 2010)
Makro loses key figure in turnaround strategy (10 July 2010)
Makro UK ‘would not fetch attractive price’, admits Metro (28 June 2010)
Makro axes 150 jobs in battle to recover (12 June 2010)