Metro Group turnover will exceed 1 bln euros in 2005 in Russia

Metro Group turnover will exceed 1 bln euros in 2005 in Russia MOSCOW. May 27 (Interfax) - Metro Group, one of the biggest commercial companies in the world, will see its turnover exceed 1 billion euros in 2005 in Russia, Hans-Joachim Korber, the company's president, told reporters.

Metro Group turnover was 893 million euros in 2004 in Russia, up 75% from the previous year, Korber said. The growth rate will be slightly lower this year, but turnover will certainly surpass 1 billion euros, he said.

Russia currently accounts for less than 2% of Metro Group's world turnover and Korber is confident that Russia will become one of the
company's main markets in 2005. He said it was enough just to look at the population of Russia, which is some 140 million, in order to understand its potential. He said Russia is the most attractive country in Eastern Europe for Metro.

The number of Metro Group stores will increase to 50 in Russia over the next three years, Korber said. There are currently 14 small-wholesale Metro Cash & Carry stores in Russia - six in Moscow, two in St. Petersburg and one each in Yaroslavl, Kazan, Volgograd, Samara, Rostov-na-Donu and Krasnodar. Another nine stores at a cost of about 15 million euros each will open by the end of 2005. Two Real hypermarkets will also open in Moscow.

Metro Groups is planning to open eight small-wholesale Metro Cash & Carry stores and five Real hypermarkets a year in Russia. Another two Real hypermarkets are already being built in St. Petersburg and they will open in 2006.