Ingles Markets 4Q profit surges 63%

Asheville, N.C. - Grocer Ingles Markets Inc. reported Tuesday that profit for the fourth quarter rose 63% to $8.5 million, compared with $5.2 million a year ago.

Revenue increased 3% to $856 million. Excluding gas, revenue rose 2%. Same-store sales rose 1.8%.

Ingles operates 203 supermarkets in the Southeast.