Metro profit more than triples on Alimentation stake sale gain
April 24 (Reuters) - Metro Inc, Canada's third-largest grocer, more than tripled its second-quarter earnings, helped by a after-tax one-time gain of C$266.4 million related to the sale of 10 million shares of Alimentation Couche-Tard Inc.
The company's net earnings rose to C$366.8 million, or C$3.77 per share, from C$96.1 million, or 94 Canadian cents per share, a year earlier. On an adjusted basis, the company earned C$1.02 from continuing operations.
Sales fell 3 percent to C$2.51 billion.
Metro said in January it would sell nearly half its stake in Alimentation, a convenience store and gasoline station operator for nearly C$479 million.