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Metro   Earnings per share were 1.83 euros

Metro fiscal 2016 profit 599 million euros

MetroMetro reported that its fiscal 2016 profit attributable to the shareholders totaled 599 million euros, lower than last year's 672 million euros.

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READ MORE Metro Group Q1 profit down to 200m euros from 549m euros

Earnings per share were 1.83 euros, lower than 2.06 euros a year ago. Profit for the period before special items were 727 million euros, compared to 688 million euros a year ago. Earnings per share before special items were 1.96 euros, compared to 1.91 euros last year.

At 58.4 billion euros, reported sales were 1.4% lower than a year earlier due to negative currency and portfolio effects. However, sales rose 0.4% in local currency. Like-for-like sales at METRO GROUP grew by 0.2%.

Further, the company said its Management Board and Supervisory Board proposed dividend of 1.00 euro per ordinary share.

Looking ahead, for fiscal 2017, the company expects renewed increase in sales and EBIT adjusted for currency effects in its current group structure.

Regarding its planned demerger, the company said that following the successful completion of the analysis phase and the approval of the management board and supervisory board of METRO AG, METRO GROUP was split into two independent wholesale and retail groups in preparation for the demerger. Subject to the approval of the Annual General Meeting on 6 February 2017, the aim is to complete the demerger of METRO GROUP by mid-2017.


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