CANADA: Sobeys reports 55% increase in operating earnings in 2002
Stellarton, NS-based Sobeys, Canada's second largest retail grocer and food distributor, has reported record operating earnings of C$141.7m for the year ended 4 May 2002, a 55% increase over the previous year's C$91.2m. Included in FY 2002 operating earnings are earnings from discontinued SERCA Foodservice operations for the 11 months ended 30 March 2002, of US$14m, compared with US$16.2m for FY 2001.
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