Jean Coutu profit rises on higher generic drug sales

Wed Apr 30, 2014 7:29am EDT
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(Reuters) - Canadian pharmacy chain Jean Coutu Group Inc (PJCa.TO: Quote) reported an 8 percent rise in fourth-quarter profit, helped by higher sales at its Pro Doc generic drug outlets.

Total sales rose marginally to C$685.4 million ($625 million) in the fourth quarter ended March 31.

Net profit rose to C$57.7 million, or 30 Canadian cents per share, from C$53.5 million, or 25 Canadian cents per share, a year earlier.

($1 = 1.0966 Canadian Dollars)

(Reporting By Sneha Banerjee in Bangalore; Editing by Don Sebastian)

Jean Coutu Group (PJC) Inc. Chairman Jean Coutu speaks during their annual general meeting in Longueuil, Quebec, July 5, 2011. REUTERS/Christinne Muschi