July 20, 2011 / 1:43 PM / 6 years ago

UPDATE 1-Colabor Group Q2 profit falls, sales up

* Q2 EPS C$0.07 vs C$0.15 last year

* Q2 Sales rise 29 pct to $317.4 mln (Follows alerts)

July 20 (Reuters) - Canada’s Colabor Group Inc , a wholesaler and distributor of food and non-food products, posted a 47 percent drop in quarterly profits, hurt by poor spring weather that affected the restaurant industry in eastern Canada.

Second-quarter net income fell to $1.7 million, or 7 Canadian cents a share, from $3.2 million, or 15 Canadian cents a share, a year ago.

Total sales were up 29 percent to $317.4 million.

Shares of the Boucherville, Quebec-based company were trading at C$8.90 on Wednesday morning on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Joyjeet Das)

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