DUESSELDORF (dpa-AFX) - Ceconomy AG (MTAGF.PK, MTTRY.PK), a German electronics retailer, on Wednesday reported preliminary 5 percent sales growth for the third quarter, with like-for-like sales growth of 4.4 percent. These sales figures are adjusted for currency and portfolio effects.
The company's third-quarter preliminary adjusted EBIT increased by 20 million euros, year-on-year, reaching negative 31 million euros as expected.
Looking ahead, for the full year, Ceconomy now projects an adjusted EBIT of around 375 million euros, higher than analysts' expectations of 366 million euros.
This increase is expected to be primarily driven by the DACH and Western/Southern Europe segment.
Further, the company continues to expect a moderate increase in annual sales adjusted for currency effects and portfolio changes across all segments.
Ceconomy is expected to release its third-quarter earnings report on August 12.
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