Canadian supermarket operator Metro Inc has posted a 4.9% increase in net earnings for the third quarter to a record C$89.3m (US$84.6m).
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Metro Inc said that excluding non-recurring items recorded in the third quarters of 2007 and 2006, adjusted third-quarter net earnings would have been $91.1m, representing an increase of 16.3%
Sales rose only marginally, by 0.1%, to reach $3.3bn. However, like-for-like sales were up by 2.1%. Metro Inc also said that excluding tobacco sales and lost sales due to the disposal of its interest in a grocery wholesaler, group revenues would have risen by 3.2%.
Metro Inc reported a 0.7% drop in sales for the first 40 weeks to $8.2bn. However, once again excluding tobacco sales and sales lost as a result of the disposal, revenues would have increased by 2.3%, the retailer said.
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