Metro AG Posts Decline In Full-Year Net Profit, Projects Rise In 2012 Sales

Metro AG

reported a drop in its full-year profit. Metro's adjusted EBIT for the period fell to EUR2.37 billion, from EUR2.42 billion in 2010, versus analysts' estimates of EUR2.36 billion. Its net profit dropped to EUR631 million from EUR850 million, missing analysts' estimates of EUR865 million. Metro's fourth quarter adjusted EBIT fell to EUR1.31 billion, from EUR1.50 billion in the year-ago period. However, analysts were expecting EBIT of EUR1.29 billion. Its quarterly net profit declined to EUR404 million from EUR674 million, versus analysts' estimates of EUR638 million. Metro also projects a rise in its 2012 sales. Metro shares closed at $7.80 yesterday.