DUESSELDORF (dpa-AFX) - Ceconomy AG (MTAGF.PK, MTTRY.PK), a German consumer electronic retailer, said in a trading update on Wednesday that it has posted a rise in sales for the final quarter and fiscal 2021-22.
For the fourth quarter, the company registered sales of 5.237 billion euros, compared with last year's 5.168 billion euros.
For the fourth-quarter, adjusted EBIT was lesser than previous year as positive impact of higher sales was overshadowed by declining product margins.
For the fiscal 2021-22, adjusted EBIT came in around 200 million euros.
For the full-year, the retailer's sales were at 21.768 billion euros, higher than 21.361 billion euros of previous fiscal. The rise in sales was driven by brick & mortar recovery and significant growth in the Services & Solutions business.
Services & Solutions sales moved up by 21.6 percent, to 1.3 billion euros from last year, accounting for 6.2 percent of the total sales.
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