October 18, 2011 / 11:44 AM / in 6 years

UPDATE 1-Colabor Q3 profit rises on buyouts

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Oct 18 (Reuters) - Canada’s Colabor Group Inc , a wholesaler and distributor of food and non-food products, posted a 72 percent rise in quarterly profit, helped by various acquisitions.

Third-quarter net income rose to C$3.1 million, or 14 Canadian cents a share, from C$1.8 million, or 8 Canadian cents a share, last year.

Total sales for the period ended September 10 rose 38 percent to C$324.8 million.

Acquisitions contributed C$83.0 million to quarterly sales.

Shares of the Boucherville, Quebec-based closed at C$9.27 on Monday on the Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Sriraj Kalluvila)

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