Metro Marks a 5.2% Jump in Q2 Profit
Metro Marks a 5.2% Jump in Q2 Profit

Grocery store chain Metro Inc. posted a 5.2% jump in second quarter profit Wednesday triggered by a marginal rise in it sales.

The Montreal-based supermarket chain, who recently consolidated all of its Ontario stores, including Dominion, under the Metro banner, revealed to earn C$80.3 million ($80.6 million) or 74 Canadian cents a share in its second quarter.

The results marked a rise 5.2 percent from C$76.3 million, or 68 Canadian cents a share, revealed in the same period a year ago when it grabbed advantages from soaring food prices.

Moreover, revenues for Metro registered a climb 1.1%, touching $2.57-billion in the quarter, compared with $2.55-billion in the second quarter of 2009.

Metro's sales marked a climb 1.1 percent touching C$2.58 billion, while EBITDA jumped 5.5 percent to C$171.6 million.

Analysts had speculated, on average, earnings of 71 Canadian cents a share before items and revenue of C$2.58 billion, based on Thomson Reuters I/B/E/S.

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