Financial and debt crisis bring Metro Cash & Carry's sales in Romania back to 2004 level

Metro Cash & Carry's sales in Romania tumbled down 7 percent, to EUR 1.06 billion last year - the same level recorded in 2004. In 2010, the company's sales in Romania were of EUR 1.14 billion, according to its financial report. Its peak year so far was 2007, with reported sales of EUR 1.6 billion. The decline in Romania last year was caused by the effects of the financial crisis and the debt crisis in the eurozone. Romania was not the only market affected - Hungary and Greece suffered too. With 32 cash & carry stores in Romania and 5,615 employees, Metro's sales were down 0.8 percent last year, to EUR 66.7 billion, while its net profit diminished by 20.9 percent, to EUR 741 million. The group also owns Real stores in Romania. editor@romania-insider.com (photo source: Metro Cash & Carry)