Jean Coutu's sales rise 3 pct

Wed Oct 8, 2014 7:20am EDT
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Oct 8 (Reuters) - Canadian pharmacy chain Jean Coutu Group Inc reported higher quarterly sales, helped by demand for generic drugs and the expansion of its network of franchised stores.

Revenue rose about 3 percent to C$674.4 million ($603.98 million).

Net profit fell to C$53.6 million, or 28 Canadian cents per share, in the quarter ended Aug. 30, from C$208.2 million, or 99 Canadian cents per share, a year earlier.

The company had reported a gain of C$158.3 million related to the investment in drugstore chain Rite Aid Corp a year earlier. ($1 = 1.1166 Canadian dollar) (Reporting by Sneha Banerjee in Bangalore)