In Germany, international retailer Metro has announced sales growth of 7.1 per cent for the first half of 2008, hitting €31.7bn, with the group's international share of sales hitting 60 per cent for the first time.
International sales for the period grew 11.1 per cent to €19.2bn, with domestic sales in Germany increasing slightly by 1.6 per cent to €12.5bn.
The group revealed that year-on-year earnings before interest, tax, depreciation and amortisation (EBITA) increased 7.2 per cent to €1.1bn.
'Overall, Metro Group has achieved a successful first half-year. We managed to continue our strong growth in an increasingly difficult economic environment,' said Metro CEO Eckhard Cordes in a statement. 'Again, the most important value and growth drivers have been Metro Cash & Carry as well as Media Markt and Saturn – but also Real shows improvements.'
Sales growth in Germany was attributed to the streamlining of Real's store base, where sales grew by 6.3 per cent per cent to €5.6bn during the first half of 2008.
Internationally, sales in Western Europe jumped 4.1 per cent to €9.8bn, while sales in Eastern Europe increased by a significant 20 per cent to €8.3bn. African/Asian sales rose 15.8 per cent to €1bn.
Additionally, the group confirmed that it would be aiming to expand its store range and increase growth in the upcoming year. 'Metro Group predicts sales growth of more than 6 per cent during the current year 2008. To this end, the group plans to open about 40 new Cash & Carry stores per year, more than 70 Media Markt and Saturn stores, as well as around 15 Real hypermarkets.'
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