CANADA: Metro Inc Reports Solid Q3 Growth

Metro Inc, the third-largest grocer in Canada, has reported a solid set of results for its fiscal third quarter.

For the three months ending 2 July, net profit grew by 8% to C$176.5m, while sales were up 4.5% to C$4.02bn, even as like-for-like sales were up 3.9%.  Metro also reported that food basket inflation declined to 1.5%, adding that results were helped by better merchandising strategies and in-store execution.

The results meant that for its first three quarters, net profit was up 13.8% to C$441.2m, while sales grew by 5% to C$9.86bn.