TORONTO, Aug 5 (Reuters) - Uni-Select Inc (UNS.TO) said on Tuesday its quarterly profit rose 8.7 percent as sales increased on the back of recent acquisitions, which partially offset the impact of the high Canadian dollar.
The distributor of replacement auto parts, equipment and tools, said it had second-quarter net earnings of C$12.7 million ($12.2 million), or 64 Canadian cents a share, compared with C$11.7 million, or 59 Canadian cents a share, in the same quarter a year earlier.
Three analysts had forecast average earnings of 63 Canadian cents a share for the quarter ended June 30, according to Reuters Estimates.
Sales at the Boucherville, Quebec-based company rose 6.2 percent to C$332.6 million from C$313.3 million.
Sales at Uni-Select’s Automotive Group USA unit grew 5.9 percent to C$168.2 million, with acquisitions contributing C$27.5 million. Uni-Select said that, excluding the negative impact of the exchange rate, sales for the unit would have increased by 12.6 percent.
Sales at its Automotive Group Canada unit rose 7.3 percent to C$149.5 million, with acquisitions contributing C$13.6 million.
Its Heavy Duty Group saw sales dip by 0.8 percent to C$14.9 million.
Shares of Uni-Select were up 76 Canadian cents, or 3.5 percent, at C$22.26 on the Toronto Stock Exchange.
$1=$1.04 Canadian Reporting by John McCrank; editing by Rob Wilson