Canadian retailer Metro saw first-half earnings rise on the back of cost cuts following the acquisition of A&P and Dominion stores.
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Metro, Canada’s third-largest supermarket chain, said yesterday (18 April) that EBITDA for the six months to 17 March rise almost 19% to C$294.7m (US$262m).
However, the company said that turnover dipped 1.3% to $4.9bn due to the sale of its interest in a local grocery wholesaler late last year.
Metro said the costs of integrating the A&P business had reached $11m during the first half of its financial year.
President and CEO Pierre Lessard said the integration of A&P is “proceeding as planned”. He added: “We are satisfied with our progress to date and are confident that Metro is well-positioned to pursue its growth in the Canadian grocery market.”
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