Germany's largest retailer Metro AG released its fourth quarter and full year 2009 results today. The company said that it reported a decline in its profit for the fourth quarter as well in the full year 2009.

However, Metro raised its outlook for FY 2010 on improved sales and Shape 2012 cost program.

Metro AG, third largest retailer in the world, posted net income of €361 million for the fourth quarter, decreasing by 47% while in the same period last year the net income was reported of €683 million. The quarterly income missed the expectations of the market analysts as they were expecting net income of €627 million for the period.

For the full year 2009, Metro reported net income of €519 million, decreasing by 7% while in FY 2008 Metro posted net income of €558 million. Total revenue for the period was reported of €66 billion, decreasing by 4% while it was posted €68 billion in FY2008.

However, Metro has raised its outlook for fiscal 2010. Metro expects its 2010 sales and underlying operating earnings to increase from the level of 2009. The company expects to be benefited from the Shape 2012 cost program.

Metro said it expects this program will lead to annual savings of €1.5 billion by 2012. This program has already added €208 million to Metro's profit last year.