Metro profit jumps, boosted by longer quarter, acquisition

Wed Nov 14, 2012 7:19am EST
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Nov 14 (Reuters) - Metro Inc, Canada's third-largest grocer, reported higher earnings on Wednesday as sales rose, helped by an extra week in the quarter and a recent acquisition.

Metro, which competes with Loblaw Cos Ltd and Empire Co Ltd's Sobeys, said net earnings had risen to C$145.1 million, or C$1.46 a share, in the fourth quarter ended on Sept. 29 from C$84.4 million, or 83 Canadian cents a share, a year earlier.

Sales rose 11.1 percent to C$2.94 billion, and sales at established stores, a key measure for retailers, rose 1.1 percent.