Germany's largest retail concern METRO reported Tuesday that its pre-tax earnings rose only slightly in the first quarter of 2005 to 147.2 million euros (189 million dollars) amid stagnant domestic sales, reported dpa. The company said the first-quarter figure barely surpassed the 145.3 million euros in the same 2004 period. Sales in the first quarter rose to 13.42 billion euros, from 12.87 billion euros in the first three months of 2004, METRO said, thanks to strong expansion in foreign business. It said foreign turnover gained 9.1 per cent in the period year- on-year, while sales in the domestic German market were stagnant. Company chairman Hans-Joachim Koerber said METRO aims to continue its business expansion in Eastern Europe and in Asia, with the company expecting full-year turnover to improve by 5 to 6 per cent.
