Metro Group has doubled its profits in 2010

Metro Group, the third largest retail group in the world, announced its results for 2010 which has seen its sales and profits increase.

Sales of Metro Group  gained 2.6% to 67.3 billion Euros. Net income more than doubled to 850 million Euros, compared to 383 million for 2009. Overall earnings before interest and taxes (EBIT) rose 19% to 2.42 billion Euros, exceeding forecasts of the group.

Metro will accelerate store openings in emerging markets and expects more rapid growth in sales in 2011 of around 4%.

Source: AFP, Reuters