Dollar-store operator Dollarama's profit rises 17 pct

Thu Jun 12, 2014 7:45am EDT
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June 12 (Reuters) - Canadian dollar-store operator Dollarama Inc reported a nearly 17 percent rise in quarterly earnings on Thursday as the average amount its customers spent per trip rose.

The company's net income rose to C$53.2 million ($49 million), or 78 Canadian cents per share, in the first quarter ended May 4, from C$45.6 million, or 62 Canadian cents per share, a year earlier.

Sales rose 11.8 percent to C$501.1 million. ($1 = 1.0858 Canadian dollars) (Reporting by Ashutosh Pandey in Bangalore; Editing by Maju Samuel)