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Metro CEO says headwinds continue into Q1
March 20, 2012 / 3:17 PM / 6 years ago

Metro CEO says headwinds continue into Q1

DUESSELDORF, Germany, March 20 (Reuters) - German retailer Metro is seeing no let up in the headwinds that caused it to report falling profit in 2011, its chief executive said on Tuesday.

“We still see headwinds, the euro zone debt crisis has not reversed, there is still pressure in the consumer electronics market,” Olaf Koch told analysts after the group reported 2011 underlying earnings of 2.37 billion euros ($3.14 billion).

He said the group should have a better idea of the outlook for 2012 when it reports first-quarter results in May. Earlier Metro said it expected profit to stagnate and sales to rise, although cautioned there were risks to the forecast. ($1 = 0.7552 euros) (Reporting by Victoria Bryan)

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