German Metro AG Posts €115M Loss In 2018-2019 Fiscal Year
The loss of the retailer Metro AG for the fiscal year 2018-2019 ending September 30 amounted to €115 million after a profit of 337 million a year earlier, the company said in a press release.
The loss to the retailer attributable to shareholders amounted to €126 million (profit of 333 million a year ago). Loss per share reached €0.35 against a profit of €0.92 for the previous fiscal year.
At the same time, Metro expects growth in comparable sales for the next fiscal year by 1.5-3%, the release notes.
In 2016, the German Metro AG decided to divide the business into two public companies. As a result, Metro AG changed its name to Ceconomy AG and started selling electronics, and the grocery business of the retailer was separated into a separate public company called Metro.