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Metro: shares up after good start to the year

( - German retailer Metro said that it has achieved its best like-for-like sales growth in six quarters over the first quarter of 2018/19.

According to preliminary and unaudited figures, Metro's like-for-like sales in the quarter to December increased by 2.3% relative to the previous year.

While like-for-like sales in Germany showed a slight decline of 0.2%, Metro benefited from a strong development in Eastern Europe (+6.4%) and Asia (+5.9%).

Like-for-like sales in Russia, where the group is facing a number of difficulties, fell by only 2.4%.

The retailer also confirmed its outlook for the financial year 2018/19.

All this good news have led to the share rising by around 3% in Frankfurt this morning.

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