Sales, profit up for grocery giant Metro
Thursday August 09, 2012 The Canadian Press
Metro Inc. has posted a $144.4-million net profit in its fiscal third quarter, beating analyst estimates.
The Montreal-based grocery store operator says it had $1.43 per share in diluted net earnings, six cents per share above a consensus estimate.
Metro (TSX: MRU) says its revenue for the quarter was up 3.8 per cent compared with the same time last year, rising to $3.7 billion.
Part of the improvement was due to Metro’s stake in Alimentation Couche-Tard (TSX: ATD.B), which operates convenience stores in Canada, the United States and Europe.
Metro’s share of Couche-Tard’s earnings increased to $13.6 million in the quarter, about double the $6.9 million reported a year earlier