Metro Inc, the Canadian retailer, today (17 November) posted an almost 11% jump in annual profits as moves to improve its stores boosted earnings.
The company booked a 10.6% rise in net earnings to C$391.8m for the year to 25 September.
Metro filed an increase in adjusted EBITDA from C$715.2m to C$747.5m. The retailer pointed to an increase in gross margins thanks to its “improved store operations”.
Sales were up 1.3% at C$11.34bn even as same-store sales dipped 0.5% due to falling food prices in certain categories.