India-based wholesaler Metro Cash & Carry, part of Germany’s Metro AG group, has turned a profit for the first time in 15 years, reports the Times of India.
Bengaluru-headquartered Metro Cash & Carry reported sales of euro776m in 2017/18 and an 11 per cent increase in profit over the prior year period, the publication said.
Commenting on the results, Metro AG CEO Olaf Koch is quoted as saying: “Five years down the line, the Indian arm should generate significantly more than one billion euros in turnover and should continue to grow in profitability.”
Metro Cash & Carry operates 27 stores in India.
