MONTREALMetro Inc. reports its first-quarter profit and sales climbed compared with a year ago, despite challenges caused by rising inflation.

The Montreal-based grocery and drugstore retailer says it earned $207.7 million or 85 cents per diluted shared for the 12-week period ended Dec. 18, up from a profit of $191.2 million or 76 cents per share in the same quarter a year earlier.

Sales in the quarter totalled $4.32 billion, up from $4.28 billion in the same quarter last year.

Food same-store sales were down 1.4 per cent compared with a year ago, while pharmacy same-store sales were up 7.7 per cent.

On an adjusted basis, Metro says it earned 88 cents per diluted share, up from an adjusted profit of 79 cents per diluted share a year ago.

Eric La Flèche, Metro's president and CEO, says the company's continued sales growth comes despite the grocery industry's higher than normal inflationary pressure.

"The rapid spread of the Omicron variant since the end of the quarter has caused challenges in our operations," he said in a statement on Tuesday.

This report by The Canadian Press was first published Jan. 25, 2022.

Companies in this story: (TSX: MRU)

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