Canadian supermarket operator Metro Inc today (23 March) booked an increase in second-quarter profits, as the company felt the benefit of higher prices and consumers increasingly eating at home.
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The company, which operates the Metro, A&P and Food Basics banners, reported earnings of C$76.3m (US$61.8m), up from C$54m in the comparable period of last year.
Revenue rose 7.5% to C$2.55bn, up from C$2.37bn in the second quarter of last year. Sales at stores open a year or more also saw similar gains, rising 7.3%.
“Our strong sales and earnings growth in the second quarter are due to the efforts of our teams who have implemented effective merchandising programmes and have improved the efficiency of our operations,” president and CEO Eric La Fleche said.
Shares in the Canadian retailer were down slightly at 20.19 GMT, dipping 0.13% to C$37.60,
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