Metro Group fears euro crisis may impact business

Germany-based Metro Group’s CEO Roland Koch has told German daily newspaper Bild that the Euro crisis may be a major threat to the domestic consumer climate. This in turn would have a significant impact on the company’s business. Koch expects higher costs for German products due to rising energy costs which could result in price increases at Metro Group.

Koch expects only a small profit at best for this year. However, he said he expected a stabilisation of the eurozone and asserted that the euro continued to be “a blessing for Europe". Koch did not see it as significant that Metro Group was in danger of being relegated from the DAX index’s Top 30. "The share price will probably drop further,” he said, “However, we will maintain our restructuring strategy."

Planet Retail