Pre-tax profits at grocer Metro plummeted almost 50 per cent in its first quarter to e84m (£74.8m). Sales also fell 2.5 per cent to e15.2bn (£13.5bn) in the three months to the end of March.

Pre-tax profits at grocer Metro plummeted almost 50 per cent in its first quarter to e84m (£74.8m). Sales also fell 2.5 per cent to e15.2bn (£13.5bn) in the three months to the end of March.

Metro said sales were affected by the shift of the Easter business into the second quarter, as well as negative currency effects in Eastern Europe and the downward trend in inflation. It said that Easter sales had come in at a “gratifying level” and that sales in April were showing an upward trend.

Topics