October 6, 2009 / 11:50 AM / 8 years ago

UPDATE 1-Jean Coutu posts quarterly profit

* Fiscal Q2 EPS C$0.07 vs yr-ago loss of C$0.16/shr

* Excluding items, fiscal Q2 earnings C$0.16/shr

TORONTO, Oct 6 (Reuters) - Canadian pharmacy chain Jean Coutu (PJCa.TO) reported a quarterly profit on Tuesday as retail sales increased significantly in spite of current economic conditions.

The Montreal-based company said it had earned C$14.9 million, or 7 Canadian cents a share, in the second quarter ended Aug. 29, compared with a year-earlier loss of C$39.1 million, or 16 Canadian cents a share.

    Excluding one-time items and losses from the company’s stake in U.S. drugstore chain Rite Aid Corp (RAD.N), profit rose to 16 Canadian cents a share from 14 Canadian cents.

    The company, which has some 358 stores spread across Quebec, New Brunswick and Ontario, said quarterly revenue rose 7.3 percent to C$608.7 million. ($1= $1.06 Canadian) (Reporting by Scott Anderson; Editing by Lisa Von Ahn)

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