Metro Inc has reported a hike in its full-year and fourth-quarter earnings, on the back of sales growth in both periods.
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The Canadian retailer said that adjusted net earnings of C$85.9m in the fourth quarter, were up 18.5% over those posted in fiscal 2008.
Adjusted net earnings for fiscal 2009 reached a record $359m, a 27.8% increase over 2008.
In the fourth quarter, sales reached C$2.53bn, up 2.3%, with same-store sales up 2%. Full-year sales reached C$11.2bn, up 4.4%.
“We are proud to have posted record net earnings in every quarter of fiscal 2009. I congratulate all our employees and retailers for their great work,” said Eric La Flèche, president and CEO.
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By GlobalData“We successfully completed the major project of converting our five conventional banners in Ontario to the Metro banner. Also, on 27 September, we completed the acquisition of 15 GP stores, consolidating our position in Eastern Québec. Despite the challenging economic environment, we are confident that we will continue to grow in the coming year.”
For the full earnings release, click here
