DÜSSELDORF (dpa-AFX) - Wholesale group Metro continued to grow sales in the second fiscal quarter. However, operating earnings declined, as Metro announced in Düsseldorf on Thursday. In addition, Metro continued to record losses on the bottom line, although these were lower than in the previous year. The forecast for fiscal year 2022/23 (as of the end of September) was confirmed.

Sales rose by 10.4 percent to 6.9 billion euros. In the process, proceeds increased in both the stationary and the delivery business, as Metro explained. The delivery business remained the growth driver. The company increased sales in all regions except Russia. Business there remains difficult. CEO Steffen Greubel spoke of a further growing sector around hotels and restaurants, which benefited from rising consumer confidence.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) fell from 157 million to 111 million euros, which Metro explained mainly by the expiration of post-transaction effects in connection with the sold supermarket subsidiary Real. In the previous year, Metro had also benefited from real estate sales. The wholesaler posted a net loss of 107 million euros, compared with minus 284 million euros in the previous year. Overall, the figures were better than analysts had expected. On the Tradegate trading platform, Metro shares were recently up one percent on the closing price in the main Xetra trading session./nas/he