DUESSELDORF, Germany, March 20 (Reuters) - Germany’s Metro AG, the world’s fourth largest retailer, said it did not expect earnings to grow in 2012 due to a stuttering global economy and costs from expanding its cash and carry and consumer electricals stores businesses.
The group, which also runs hypermarkets and department stores, said sales should grow in 2012, but earnings before interest, tax and special items would only match the 2.37 billion euros ($3.14 billion) it reported for 2011 on Tuesday.
That result was in line with expectations, as was the adjusted EBIT for the fourth quarter of 1.31 billion.
Net income after minorities dropped to 404 million euros in the final quarter, compared with expectations in a Reuters poll for 633 million, as the group took a hit from currency effects and costs from its Shape 2012 restructuring programme.
$1 = 0.7552 euros Reporting by Victoria Bryan