Grocery giant Metro posts $144.4-million profit, revenue rises 3.8 per cent

August 09, 2012 - 8:05 AM

MONTREAL - Metro Inc. (TSX:MRU) has posted a $144.4-million net profit in its fiscal third quarter, beating analyst estimates.

The Montreal-based grocery store operator says it had $1.43 per share in diluted net earnings, six cents per share above a consensus estimate.

Metro says its revenue for the quarter was up 3.8 per cent compared with the same time last year, rising to $3.7 billion.

Part of the improvement was due to Metro's stake in Alimentation Couche-Tard (TSX:ATD.B), which operates convenience stores in Canada, the United States and Europe.

Metro's share of Couche-Tard's earnings increased to $13.6 million in the quarter, about double the $6.9 million reported a year earlier.

News from © The Canadian Press, 2012

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Grocery giant Metro posts $144.4-million profit, revenue rises 3.8 per cent

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