Metro Group has announced that overall group sales climbed by 2.3 per cent during the opening three months of the year, up to €15.5bn, supported by positive currency effects in international operations and an earlier Easter business period in many countries.
While sales in the group's home market of Germany came in slightly the year-earlier level at €6.2bn, international sales increased by 4.4 per cent, helping push earnings before special items up 55.9 per cent to €136m from €87m last year.
Western European sales climbed 4.4 per cent to €4.9bn through the quarter, Metro said, while Eastern European sales grew 5 per cent to €3.7bn.
Meanwhile, in the group's Asia/Africa region, first-quarter sales rose 2.2 per cent compared with 2009 to €700m, although this represented growth of 7.7 per cent when adjusted for currency effects.
'In some countries, the worst of the economic crisis seems to be over,' said group CEO Eckhard Cordes. 'Although the situation remains challenging, we see a first economic silver lining on the horizon.'
Net debt was further reduced through the three-month period, down €731m compared with the year-earlier period, while cash flow from continuing operations before financial activities improved by €400m.
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