Metro 2008 Q1 results
Sales of Metro International decreased in Q1 2008 compared to the same quarter in 2007, the company reported today. The operating loss of €5.6m, however, was less that the loss in 2007 (€8.8m).
Spain, Denmark and the US were singled out by CEO Per Mikael Jensen as having ‘difficult market conditions’. Spain and the US always were difficult, but the Danish operation apparently is feeling also the increased competition although it is still profitable.
Metro Sweden is developing toward higher profitability while also Metro Holland performed very well.
The results in Southern Europe (Portugal, France, Italy, Greece, Spain) are under pressure because of the results in Spain and difficult sales in March (Easter).
Chile and Hong Kong are showing good results for the company.
Of the Joint Ventures results, Canada and Mexico were singled out as performing very good.