Metro Cash & Carry India, which operates 27 stores in the market, posted sales of EUR776 million in 2017-18, a decrease of 2.8% on the prior-year figure, yet CEO Olaf Koch disclosed that the operation had seen a profit for the year. Exact profit figures were not revealed, but it would mark the first time green figures have been seen since its market entry in 2003. Sales in local currency rose by approximately 11%.
Koch, who was on a visit to review the India operation, said Metro could see better performance from its private label offer and stated that eCommerce and forging stronger ties with local kirana owners would be priorities for the years ahead.
Source: Times of India