February 12, 2009 / 4:56 PM / in 9 years

UPDATE 1-Shoppers Drug profit up; sees stronger sales

* Fourth-quarter EPS C$0.80 vs C$0.70

* Revenue up 14.7 percent

* Sees 2009 sales growth of 7.5-9 percent

* Shares rise 5.2 percent to C$43.70

TORONTO, Feb 12 (Reuters) - Shoppers Drug Mart SC.TO reported a higher quarterly profit on Thursday, helped by strong pharmacy and front-end sales, and said it saw sales rising in the high single digits for all of 2009 as it shrugs off the effects of the slowing economy.

Canada’s biggest pharmacy chain said it earned C$173.1 million ($138.8 million), or 80 Canadian cents a share, in its fourth quarter, up from C$151.3 million, or 70 Canadian cents a share, in the year earlier period.

Revenue grew 14.7 percent to C$2.5 billion.

Analysts had expected average earnings per share of 75 Canadian cents, before items, and revenue of C$2.495 billion, according to Reuters Estimates.

$1=$1.25 Canadian Reporting by Scott Anderson; editing by Rob Wilson

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