Metro made a consolidated net profit of €127 million in the financial year ended last Sept. 30, against a loss of €35 million in the previous year, although changes in foreign currencies reduced its profits by €82 million. Total revenues declined by 4 percent to €63 billion, but were up by 1.3 percent in local currencies and on a comparable basis. The disposal of assets such as its hypermarkets in Eastern Europe helped to reduce net debt by €736 million to €4.7 billion. One of Metro's remaining properties, Galeria Kaufhof, saw its operating earnings (Ebit) decline by 16 percent to €193 million on 0.1 percent higher sales of €3.1 billion. Its online sales increased by 64 percent to €63 million. Besides its department stores, Kaufhof operates 17 sporting goods stores under the Kaufhof Sportarena and Wanderzeit banners.

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