Canadian grocer Metro's profit rises as store re-jig pays off

Wed Nov 19, 2014 7:32am EST
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Nov 19 (Reuters) - Canadian grocer Metro Inc's fourth-quarter profit increased 45 percent as the company's re-organized store network in Ontario and merchandising strategies helped lift sales.

Net income rose to C$115.6 million ($101.99 million), or C$1.32 in the fourth-quarter ended Sep. 27, from C$79.5 million, or 83 Canadian cents per share, a year earlier.

Net income in the year-ago quarter included a C$29.4 million restructuring charge for the Ontario stores reorganization.

The Montreal, Quebec-based company's revenue rose 3.9 percent to C$2.71 billion. ($1 = C$1.1334) (Reporting by Anet Josline Pinto and Manya Venkatesh in Bangalore; Editing by Savio D'Souza)