February 7, 2013 / 1:13 PM / in 5 years

Shoppers Drug Mart profit flat despite strong pharmacy sales

(Reuters) - Shoppers Drug Mart Corp SC.TO reported a flat fourth-quarter profit, despite a rise in pharmacy sales.

The company’s profit was C$175 million, or 85 Canadian cents per share, in the fourth quarter, almost unchanged from C$176 million, or 82 Canadian cents per share, a year earlier.

Sales rose 4 percent to C$2.72 billion. On an adjusted basis, the company earned C$2.94 per share.

Same-store sales for the quarter, a key measure for retailers, rose 2.7 percent. Fourth-quarter pharmacy sales rose 3.7 percent to C$1.22 billion.

Reporting by Shounak Dasgupta in Bangalore

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