Jean Coutu profit rises on gains from sale of Rite Aid stake

Reuters

Oct 9 (Reuters) - Canadian pharmacy chain Jean Coutu GroupInc's quarterly profit rose more than four-fold due toa C$158.3 million ($153 million) gain from the sale of itsinvestment in drugstore chain Rite Aid Corp.

Net profit rose to C$208.2 million, or 99 Canadian cents pershare, for the three months ended Aug. 31, from C$51.2 million,or 23 Canadian cents per share, a year earlier.

Revenue fell slightly to C$653.8 million from C$658.7million a year earlier.

Rates

View Comments (0)