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Metro reports $222.4-million Q3 profit, up from $167.5 million a year ago

A Metro grocery store is seen on January 31, 2012 in Montreal. Metro Inc. reported a profit of $222.4 million in its latest quarter, up from $167.5 million a year ago, as sales also climbed higher.The retailer says the profit amounted to 86 cents per diluted share for the 16-week period ended July 6 compared with a profit of 69 cents per diluted share in the same quarter last year. THE CANADIAN PRESS/Paul Chiasson

MONTREAL — Metro Inc. reported a profit of $222.4 million in its latest quarter, up from $167.5 million a year ago, as sales also climbed higher.

The retailer says the profit amounted to 86 cents per diluted share for the 16-week period ended July 6 compared with a profit of 69 cents per diluted share in the same quarter last year.

Sales in what was the company’s third quarter totalled $5.23 billion, up from $4.64 billion, boosted by the addition of Jean Coutu Group.

Food same-store sales were up 3.1 per cent, while pharmacy same-store sales were up 3.4 per cent.

On an adjusted basis, Metro says it earned 90 cents per share in its most recent quarter compared with an adjusted profit of 75 cents per share a year ago.

Analysts on average had expected an adjusted profit of 92 cents per share for the quarter, according to the financial markets data firm Refinitiv.

 

 

Companies in this story: (TSX:MRU)

The Canadian Press