Grocery retailer Metro recorded a 10.6% increase in net earnings for the year ended September 25, on sales up 1.3% to CAD11.34bn (£7bn). Net earnings reached CAD392m (£241m) versus CAD354.4m (£218m) last year.

During the fourth quarter earnings climbed to CAD93.4m (£57.5m) from CAD84.4m (£52m) a year ago, on sales up 1% to CAD2.5bn (£1.6bn). However, like-for-like sales dropped 0.5% during the quarter owing to price deflation in certain categories combined with continuing consumer caution.

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