November 16, 2016 / 11:57 AM / a year ago

Canadian retailer Loblaw's quarterly profit rises 25.5 pct

Nov 16 (Reuters) - Canadian grocery and pharmacy retailer Loblaw Cos Ltd reported a 25.5 percent rise in quarterly profit, helped by a drop in expenses and improved performances by its financial services and property businesses.

Adjusted net earnings attributable to shareholders rose to C$512 million ($380 million), or C$1.26 per share, in the third quarter ended Oct. 8, from C$408 million, or 98 Canadian cents per share, a year earlier.

Revenue rose 1.4 percent to C$14.14 billion due to lowered prices. ($1 = 1.3486 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Martina D‘Couto)

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