The company forecast Ebitda to rise by just 10 per cent in 2006, compared to a previous estimate of a 20 per cent increase.
Overall, the group recorded a net profit of Eu558.1 million (£377.6 million) for the six months to the end of June, compared to a loss of Eu271.9 million (184.0 million) during the same period last year. However, these latest half-year results include exceptional earnings of Eu2.7 billion (£1.83 billion) from the disposal of a number of properties.
The department store division and mail order business posted losses of Eu36.1 million (£24.4 million) and Eu52.6 million (£35.6 million) respectively. In a statement, the group said the Universal mail order business was performing 'well below plan and previous year', but the Karstadt department store chain was performing in line with expectations.
KarstadtQuelle operates 92 department stores and 46 sports stores across Germany.
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