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Business

German Retailer Metro Looks Abroad

German retail group Metro expects to boost net profits this year with expansion overseas, especially in Asia and eastern Europe, the company said Tuesday. Metro forecasts that this year's growth would increase earnings per share by 8.0 - 12.0 percent before goodwill depreciation, Metro head Hans-Joachim Koerber told AFP. Last year, earnings per share shrank 7.7 percent to 2.53 euros ($3.34). With stores in 30 countries, Metro plans to continue its international expansion to enable the retailer to offset competition in Germany's sluggish economy. The retailer of such electronics chain stores as Media Markt and Saturn is looking to increase its activities in Russia, China and India.

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