Sobeys owner Empire reports 84 percent jump in profit
(Reuters) - Empire Co Ltd (EMPa.TO: Quote), owner of Canada's No. 2 grocer, reported an 84 percent jump in second-quarter earnings as cost controls helped to offset weaker margins.
Sales at the company's Sobeys grocery chain rose 2 percent to C$4.42 billion ($4.17 billion) in the three months to November 2.
Total sales also increased by about 2 percent, to C$4.43 billion.
Empire's net earnings rose to C$169.2 million, or C$2.48 per share, from C$91.9 million, or C$1.35 per share, a year earlier.
($1 = 1.0611 Canadian dollars)
(Reporting By Kanika Sikka in Bangalore; Editing by Sriraj Kalluvila)
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