DUESSELDORF (dpa-AFX) - Ceconomy AG (MTAGF.PK, MTTRY.PK), a German consumer electronics retailer, on Friday posted narrower loss for the second quarter, amidst a rise in revenue, supported by a recovery in brick-and-mortar business.
In addition, for the full year, the company has reaffirmed its outlook.
For the second quarter, Düsseldorf-headquartered firm reported an adjusted loss before interest and tax at 62 million euros, compared with a loss of 146 million euros a year ago.
For the first half of the fiscal, the retailer's adjusted EBIT increased to 212 million euros, from 199 million euros last year.
The company's sales for the second quarter moved up to 5 billion euros from 4.3 billion euros a year ago, whereas sales for the first six-month period were registered at 11.9 billion euros as against 11.8 billion euros in the prior year.
Looking ahead, Florian Wieser, CFO of Ceconomy, said, 'Despite the persisting, extremely adverse conditions, we confirm our expectation of a very clear increase in adjusted EBIT and a slight increase in sales adjusted for currency effects and portfolio changes in the full year 2021-22.'
For the fiscal 2021, Ceconomy had posted its sales at 21.4 billion euros with adjusted EBIT of 237 million euros.
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