Metro Inc. has announced this week that net earnings increased by 6.6 per cent during the third quarter (Q3) of 2010, up to C$120m (US$115m), with fully diluted net earnings per share standing at C$1.12 against C$1.01 last year, an increase of 10.9 per cent.

The group said that year-on-year sales climbed by 1.4 per cent to C$3.56bn (US$3.42bn) from C$3.51bn (US$3.37bn) last year, achieved despite a slight drop in overall basket value, with same-store sales declining by 0.6 per cent.

'We are pleased with our third-quarter results as they improved upon last year's excellent third quarter, despite persistent deflation in certain product categories and continuing consumer caution, said group president and CEO Eric La Fléche.

'Following the successful launch of our new Metro & Me loyalty card in Québec City last April, we will roll out this new programme throughout the other Québec regions in the fall,' he added. 'Going forward, we are confident that our customer-centric strategies combined with disciplined cost control will allow us to sustain our growth.'

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