CANADA: Sobeys H1 profit climbs
- Net profit up 21.3%
- Operating profit grows 15.8%
- Net sales climb 9.5%
Sobey's saw its profits grow in the first half
Canadian retailer Sobeys has booked an increase in earnings in the first half of its fiscal year.
In the 26 weeks ended 5 November, earnings amounted to C$150m (US$152.2m), a 21.3% increase on the prior year period.
Operating profit climbed 15.8% to reach C$245.2m, parent company Empire reported yesterday (13 December).
Sales in the six month period reached C$8.85bn, an increase of 9.5% on last year.
In the US and Canada, retailers Costco, Casey's General Stores and Sobeys have reported quarterly results....
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