Metro Group has announced that improved sales across all regions of the business during the third quarter and first nine months of the year have reflected a 'new course of growth' for the retailer, resulting in an increase in its year-end forecast from €2.2bn to €2.3bn.
For the nine-month period between January-September, sales increased by 3.1 per cent to €47.5bn, similar levels to those reached before the 2008 economic downturn.
Third-quarter sales climbed 4.5 per cent to hit €16.3bn, boosting profit for the three-month period up 52.1 per cent to €190m.
'We are experiencing a significant pickup of business in all regions,' said Eckhard Cordes, CEO of Metro Group. 'Against the backdrop of the good economic development and our progress made with Shape 2012 we expect to generate earnings of €2.3bn this year.'
Mr Eckhard also pointed to a significant recovery in the group's Eastern European operations as a benefit for Metro's overall operations.
'Our assessment is confirmed that also Eastern Europe is making a comeback as a growth driver,' he added. 'Our strong position in this region is already paying off again.'
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