Metro FY Profit Rises

(RTTNews) - Metro AG Monday reported full-year 2020 net income of 460 million euros or 1.27 euro per share, up from 322 million euros or 0.89 euro per share last year.

Sales for the period dropped to 25.6 billion euros from 27.1 billion euros last year.

"The past 2019/20 financial year also presented METRO with new challenges, which we mastered as a strong team with a clear focus and flexible responses. We were able to complete our portfolio measures as planned, continued to reduce our debt and, as a pure wholesaler, set the course for future growth," said Olaf Koch, Chairman of the Management Board of METRO AG.

"With its holistic wholesale approach, METRO has proven to be very resilient to crisis. This includes the sales channels' flexibility with store-based, online and delivery business, METRO's contribution to the successful new start of independent business owners in the hospitality industry, the further digitalisation of the industry sector and numerous measures to strengthen independent traders such as expanding the franchise concept."