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Metro beats forecasts, revenue gains 3.8 per cent

Shoppers leave a Toronto Metro store.

Fred Lum/Fred Lum/The Globe and Mail

Metro Inc. has posted a $144.4-million net profit in its fiscal third quarter, beating analyst estimates.

The Montreal-based grocery store operator says it had $1.43 per share in diluted net earnings, six cents per share above a consensus estimate.

Metro says its revenue for the quarter was up 3.8 per cent compared with the same time last year, rising to $3.7-billion.

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Part of the improvement was due to Metro's stake in Alimentation Couche-Tard Inc., which operates convenience stores in Canada, the United States and Europe.

Metro's share of Couche-Tard's earnings increased to $13.6-million in the quarter, about double the $6.9-million reported a year earlier.

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