By Ulrike Dauer

FRANKFURT--Metro AG (MTTRY) posted a 31% rise in fourth-quarter adjusted earnings before interest and tax on the year, because of improvements at its Metro Cash & Carry and Media-Saturn divisions.

The German retail and wholesale group kept the dividend for fiscal year 2016 unchanged at EUR1 ($1.06) a share, ahead of the company's split into two entities.

Adjusted earnings before interest and taxes rose to EUR568 million ($604 million) in the quarter, beating a Dow Jones average forecast of EUR471 million. The adjustment is for currency effects. For the full year, it was EUR1.56 billion, up 3.2% and in line with company guidance.

Net profit in the final quarter rose 12% to EUR251 million. For the full year, net profit fell 10.9% to EUR599 million.

Analysts await an update on the group's separation into two listed entities, one for wholesale and food, combining the Metro Cash & Carry and Real brands, and one for consumer electronics. Metro said the split was on track for mid-2017.

In October, Metro reported sales declines for the fourth quarter and for the full year.

The company will update on strategy and financial targets Wednesday and Thursday. Christmas holiday sales figures are due Jan. 10.

Write to Ulrike Dauer at ulrike.dauer@wsj.com

(END) Dow Jones Newswires

December 14, 2016 03:30 ET (08:30 GMT)