May 8, 2008 / 1:48 PM / 10 years ago

Canadian Tire posts 20 pct jump in Q1 net profit

OTTAWA (Reuters) - First-quarter profit at Canadian Tire (CTC.TO) (CTCa.TO) rose 19.8 percent, the country’s biggest auto parts and household goods retailer said on Thursday, but earnings adjusted to exclude non-operating gains and losses declined nearly 5 percent.

Canadian Tire CEO Tom Gauld listens during the company's annual general meeting in Toronto May 11, 2006. REUTERS/Peter Jones

The company, which also runs gasoline bars and offers financial services, said net earnings grew to C$66.7 million ($66 million), or 82 Canadian cents a share, from C$55.7 million, or 68 Canadian cents a share, in the year-before period.

Adjusted earnings dropped to C$55.2 million from C$58.1 million.

($1=$1.01 Canadian)

Reporting by Susan Taylor; editing by Renato Andrade

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