February 23, 2017 / 11:43 AM / 7 months ago

Canadian retailer Loblaw's quarterly profit rises 57 pct

Feb 23 (Reuters) - Canadian grocery and pharmacy retailer Loblaw Cos Ltd reported a 57 percent rise in quarterly profit, helped partly by a drop in expenses in its retail segment and improved performances in its financial services and property businesses.

Net earnings available to common shareholders rose to C$201 million ($153 million), or 50 Canadian cents per share, in the fourth quarter, from C$128 million, or 31 Canadian cents per share, a year earlier.

Revenue rose to C$11.13 billion from C$10.87 billion. ($1 = C$1.31) (Reporting by Komal Khettry in Bengaluru; Editing by Maju Samuel)

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