Toronto, Nov 19 - Metro Inc reported a higher quarterly profit despite flat sales as an overhaul of the supermarket operator's computer system and rebranding moves in the big Ontario market began to pay off.
Canada's third-largest food retailer said on Wednesday it earned C$72.3 million ($58.6 million), or 64 Canadian cents a share, during its fiscal fourth quarter, up from C$57.6 million, or 49 Canadian cents a share, in the same period last year.
The 2007 results included costs related to its A&P Canada acquisition. Without the costs, the 2007 results were C$66.8 million, or 57 Canadian cents a share.
Revenue for the quarter was C$2.48 billion, up 1.8 percent from C$2.43 billion for the same time last year.
Analysts were expecting, on average, 61 Canadian cents a share and revenue of C$2.50 billion, according to Reuters Estimates.
The company moved to consolidate its five Ontario food banners under the Metro name to try to boost efficiency and spark growth. Metro started the rebranding work in September to renovate stores, offer a wider and improved range of food products, and launch a new marketing campaign.