February 26, 2015 / 11:54 AM / 3 years ago

Loblaw's profit more than doubles

(Reuters) - Canada’s largest grocer Loblaw Cos Ltd’s (L.TO) quarterly profit more than doubled, mainly due to higher sales in its retail business and the acquisition of Shoppers Drug Mart.

A Loblaws store is pictured in Ottawa February 24, 2011. REUTERS/Chris Wattie

The company’s net income rose to C$247 million ($198.7 million), or 60 Canadian cents per share, in the fourth quarter ended Jan. 3 from C$114 million, or 41 Canadian cents per share, a year earlier.

Excluding items, Loblaw earned 96 Canadian cents per share.

Revenue rose 49.4 percent to C$11.41 billion.

Reporting by Anet Josline Pinto in Bengaluru; Editing by Kirti Pandey

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below