Réal Raymond to Succeed Pierre H. Lessard as Chair of the Board of Directors as Metro Inc. Posts Q4 2014 Fiscal Report
MONTRÉAL, CANADA - Metro Inc. shares roared to an all-time high on Wednesday, November 19th, 2014, on the heels of a robust Q4 and FY 2014 financial report. Most notably, profits climbed 45.4% to $115.6 million during Q4 2014, according to a press release.
“Our financial position at the end of the fourth quarter of 2014 remains very solid,” shared Eric R. La Flèche, President and Chief Executive Officer. “We delivered strong fourth quarter results which confirms that our customer-first strategies are gaining traction in our very competitive industry. We are encouraged by the improved sales performance across all banners. We completed the acquisition of Première Moisson in the fourth quarter and we will continue to invest in our network and execute our business plans to pursue our growth.”
Some Q4 2014 highlights from Metro's financial report include:
- A 3.9% increase in sales to $2,712.2 million.
- A 3.1% increase in same-store sales.
- A 59.0% (or 14.8% on adjusted basis) increase in fully diluted net earnings per share to $1.32/share.
Some FY 2014 highlights from Metro's financial report include:
- A 1.7% increase in sales to $11,590.4 million.
- A 1.1% increase in same-store sales.
- A 35.2% decrease in profit to $456.2 million.
- A 30.4% decrease in fully diluted net earnings per share to $5.07/share.
- Adjusted net earnings from continuing operations of $460.9 million.
Metro exceeded analysts' expectations in this financial report. According to the Financial Post, analysts had only anticipated profits of $1.27/share in Q4, a number which Metro beat by 5 cents with a posting of $1.32 profit per share.
Metro's stock rose to $84.66/share on the Toronto Stock Exchange in the wake of this news, up 2.62% or $2.16. This represents an all-time high for the company's stock, according to the Financial Post.
It was a busy quarter for Metro Inc. In addition to its financial results, the company also announced that longtime Board member Réal Raymond would be succeeding the retiring Pierre H. Lessard as Chair of the Board of Directors of Metro Inc.
“On behalf of the entire Metro team, I would like to thank Pierre Lessard and Paul Gobeil for their exceptional contribution to Metro’s success," Eric R. La Flèche, shared in the announcement. "We will pay tribute to them at the next annual general meeting of shareholders.”
Pierre has been a pillar of Metro's executive team for over 24 years, having served as President and CEO from 1990 to 2008 and Board Chair from that point until today.
Along with Pierre, Paul Gobeil, Vice-Chair of the Board since 1990, will also be retiring after the next annual general meeting on January 27, 2015. John H. Tory has also resigned from the Board following his election as Mayor of Toronto.
Congratulations on an excellent fourth quarter, Metro Inc.!