BERLIN – Metro said on Thursday that its profit rose in the 2018 fiscal year despite a slight drop in overall sales, which were hit by unfavorable currency swings.
The German retailer said net profit for the year was up 5.9 percent to 344 million euros ($390.3 million) compared with 325 million euros a year earlier.
However, sales fell by 1.6 percent to 36.53 billion euros from 37.14 billion euros, the company said. In local currency terms, sales were up 1.5 percent Metro said.
The company declared a dividend of 0.70 euros a share.
Metro said it expects sales growth of between 1 percent and 3 percent for the 2019 fiscal year, while adjusted earnings before interest, taxes, depreciation and amortization are forecast to grow between 2 percent and 6 percent.