Canadian grocer Metro Inc profit rises 13 pct

Tue Jan 27, 2015 7:22am EST
 
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Jan 27 (Reuters) - Canadian grocer Metro Inc reported a 13 percent jump in quarterly profit as same-store sales rose 3.8 percent, the highest increase since the third quarter of 2009.

The company increased its quarterly dividend to 35 Canadian cents per common share from 30 Canadian cents and also announced a 3-for-1 stock split.

Net income rose to C$112.5 million ($90.2 million), or C$1.30 per share, in the quarter ended Dec. 20, from C$99.2 million, or C$1.06 per share, a year earlier.

The Montreal, Quebec-based company's revenue rose about 5 percent to C$2.84 billion. ($1 = 1.2476 Canadian dollars) (Reporting by Manya Venkatesh in Bengaluru; Editing by Sriraj Kalluvila)