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Metro Group (DB:MEO) FY16 Trading Statement: Metro Reports Slight FY16 Sales Growth and Confirms EBIT Guidance

Executive Summary

  • Metro Group reported net sales of €58.4 billion inFY16, down 1.4% from FY15, and slightly below the consensus estimate of €58.8 billion. In local currency terms, sales grew by 0.4% and comps grew by 0.2%.
  • In 4Q16, net sales declined by 0.5% to €14.2 billion. Sales grew by 0.2% year over year in local currency and comps grew by 0.1%.
  • Metro stated that the company achieved its internal sales forecast for FY16.

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