April 29, 2008 / 3:43 PM / 9 years ago

Shoppers Drug Mart profit up

TORONTO (Reuters) - Shoppers Drug Mart SC.TO said on Tuesday its profit rose 19 percent in the first quarter, helped by cost cuts and a reduction in the company’s income tax rate.

<p>People walk past a Shoppers Drug Mart store in Toronto July 19, 2006. REUTERS/Peter Jones</p>

Shoppers, Canada’s largest pharmacy chain, said it earned $101.3 million, or 47 Canadian cents a share, in the period ended March 22, up from $85.3 million, or 39 Canadian cents a share, in the comparable period a year earlier.

Reporting by Jonathan Spicer; Editing by Peter Galloway

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