Metro has announced that it hit net earnings of US$61.76m for the second quarter (Q2) of 2009, up 41.3 per cent on a year-on-year basis from U$43.7m last year, with fully-dluited net earnings per share increasing 41.7 per cent.
Sales during the period jumped 7.5 per cent to US$2.06bn from US$1.92bn in 2008, with same-store sales up by 7.3 per cent.
'Our strong sales and earnings growth in the second quarter are due to the efforts of our teams who have implemented effective merchandising programmes and improved the effciency of our operations,' said group president and CEO Eric La Fléche. 'Our ontario supermarket conversion plan is on schedulewith 89 of 159 stores converted to the Metro banner as of 10 April 2009 and we are pleased with the results so far.
'Despite the difficult economic environment, we are confident that we are well-positioned to grow our business,' he added.
