November 25th, 2020

Metro reports fourth-quarter profit and sales up from year ago

By The Canadian Press on November 18, 2020.

MONTREAL – Metro Inc. reported its fourth-quarter profit rose by more than 10 per cent compared with a year ago.

The company, which includes the Metro grocery store chain and Jean Coutu drug stores, says it earned $186.5 million or 74 cents per diluted share for the quarter ended Sept. 26.

The result compared with a profit of $167.4 million or 66 cents per diluted share in the same quarter last year.

Revenue for the 12-week period totalled $4.14 billion, up from nearly $3.86 billion.

Food same-store sales gained 10 per cent, while pharmacy same-store sales rose 5.5 per cent.

On an adjusted basis, Metro says it earned $193.1 million or 77 cents per share for the quarter, up from an adjusted profit of $174 million or 68 cents per share a year ago.

This report by The Canadian Press was first published Nov. 18, 2020.

Companies in this story: (TSX:MRU)

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