By  on March 20, 2013

BERLIN — Burdened by special items totalling 616 million euros, or $792.2 million, the Metro Group said 2012 net profits declined 26.8 percent to 717 million euros, or $922.1 million.

The special items primarily relate to the streamlining of the group’s portfolio, and include restructuring expenses, goodwill and other impairments connected to the sale of Makro Cash & Carry in the U.K., the termination of Media Markt’s business in China, and effects from the sale of Real’s Eastern European business.

Operating profits (EBIT) before special items for the German cash & carry, department store, hypermarket and electronics retail group decreased 16.7 percent to 1.98 billion euros, or $2.55 billion.

 

To unlock this article, subscribe to WWD below.

load comments
blog comments powered by Disqus