Metro Q3 results

Main message from Metro this morning: sales down in Q3 and first nine months.

From the Metro press release:

Total net sales decreased by 14 percent to € 57.0 million (2007: € 66.2 million). Sales declined by 8 percent excluding closed and divested operations (Stockholm Bostad and Czech Republic) and by 6 percent when adjusting for the operations which did not publish during July and / or August 2008.

The loss from operations was € 13.4 million (2007: € 13.5 million loss). Following the capital gain from Schibsted transaction, which was successfully finalised on the 24th September 2008, Metro reported an operating profit of € 24.0 million (2007: €13.5 million loss) and a net profit of € 22.2 million (2007: € 14.3 million net loss).

Year-on-year readership has increased by 8 percent to 17.7 million daily readers (2007: 16.4 million).

The net profit per share for the third quarter 2008 was € 0.05 (2007: loss of € 0.03).

FIRST NINE MONTHS RESULTS
Operational sales decreased by 9 percent to € 211.9 million (2007: € 233.6 million). Sales declined by 4 percent excluding closed, divested operations and adjustments for the operations which did not publish during July and / or August 2008.

The loss from operations was € 18.4 million (2007: € 18.7 million loss). Following the capital gain from Schibsted transaction and the 24 Timer acquisition, Metro reported an operating profit of € 19.2 million (2007: € 18.7 million loss) and a net profit of € 13.8 million (2007: € 24.1 million net loss).

Comments are closed.