Advertisement
Canada markets closed

  • S&P/TSX

    21,969.24
    +83.86 (+0.38%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CAD/USD

    0.7316
    -0.0007 (-0.10%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • Bitcoin CAD

    86,156.19
    -1,810.37 (-2.06%)
     

  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • RUSSELL 2000

    2,002.00
    +20.88 (+1.05%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • NASDAQ

    15,927.90
    +316.14 (+2.03%)
     

  • VOLATILITY

    15.03
    -0.34 (-2.21%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6838
    +0.0017 (+0.25%)
     

Pharmacy chain Jean Coutu's profit rises as costs, taxes drop

Reuters
A pedestrian walks past a Jean Coutu pharmacy in downtown Montreal, April 28, 2010. REUTERS/Shaun Best

(Reuters) - Canadian pharmacy chain Jean Coutu Group Inc (PJCa.TO) reported an 11 percent rise in third-quarter profit, helped by a fall in expenses and a lower tax bill.

Net profit for the quarter rose to C$62.5 million ($57.88 million), or 30 Canadian cents per share for the quarter ended November 30, compared with C$56.2 million, or 26 Canadian cents per share, a year earlier.

The Longueuil, Quebec-based company said revenue fell 0.6 percent to C$712.5 million. Cost of sales fell about 2 percent.

The company's tax bill fell 9.6 percent in the quarter.

($1 = 1.0799 Canadian dollars)

(Reporting By Sneha Banerjee in Bangalore; Editing by Savio D'Souza)