August 9, 2012 / 12:32 PM / 5 years ago

Canadian Tire profit rises on sales, acquisition

Aug 9 (Reuters) - Canadian Tire Corp reported higher quarterly profit on Thursday, helped in part by retail sales growth, strong performance in its financial services business and last year’s acquisition of sporting goods retailer Forzani.

The company, one of Canada’s biggest and best-known retailers, agreed to buy Forzani Group Ltd, now FGL Sports, in May 2011.

Net income for the second quarter rose to C$133.7 million, or C$1.63 a share, from C$105.8 million, or C$1.29 a year earlier. Revenue rose 16.4 percent to C$2.99 billion.

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