October 6, 2010 / 4:32 PM / in 8 years

UPDATE 1-Colabor Group posts lower Q3 results, shares fall

* Q3 EPS C$0.18 vs C$0.30 last year

* Rev falls 15 pct

* Shares down 6 pct

Oct 6 (Reuters) - Canada’s Colabor Group Inc (GCL.TO), a wholesaler and distributor of food and non-food products, posted lower quarterly results hurt by lower sales in its distribution segment.

Third-quarter net income fell to C$3.9 million, or 18 Canadian cents a share, from C$4.7 million or 30 Canadian cents a share in the year-ago period.

Total sales fell to C$234.3 million from C$276.8 million.

The company said sales at its distribution segment, which accounts for more than half of its total sales, fell 22 percent to C$142 million as it lost a major contract in the restaurant sector.

Shares of the Boucherville, Quebec-based company, which have lost 3 percent in value since touching a 52-week high in September, were down 6 percent at C$12.13 Wednesday afternoon on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Vyas Mohan)

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