Metro reports $145M Q4 profit, Jean Coutu acquisition boosts sales

Metro Inc. says it earned $145 million in its latest quarter as its sales grew by more than 15% compared with a year ago, boosted by its acquisition of the Jean Coutu Group.

The grocer says the profit amounted to 56 cents per diluted share for what was its fourth quarter, compared with a profit of $154.9 million or 66 cents per diluted share in the same quarter last year.

Sales in the 12-week period totalled $3.74 billion, up from $3.23 billion in the fourth quarter last year that ran for 13 weeks.

Excluding the Jean Coutu sales and the extra week, the company says sales were up 2.5%, with food same-store sales up 2.1% and pharmacy same-store sales up 1.8%.

On an adjusted basis, Metro says it earned 63 cents per share in the quarter, up from an adjusted profit of 56 cents per share a year ago.

Thomson Reuters Eikon says analysts on average had expected a profit of 63 cents per share.