Market News
11Aug2006 |
Metro\'s Profit Jumps 50%Higher sales following its acquisition of A&P Canada a year ago helped Metro Inc. boost its profit by nearly 50%. Montreal-based Metro says it earned $85.1 million in the third-quarter ending July 1, 2006, compared to earnings of $56.9 million a year ago. Excluding non-recurring items such as integration and rationalization costs of $3.9 million and a tax gain of $9.4 million, Metro said adjusted net earnings would have been $78.3 million. The retailer also reported a 75.8% rise in sales to $3.3 billion. Source: Canadian Grocer E-Newsletter, August 11, 2006. 
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