Canada's Jean Coutu profit down, but revenue rises

Wed Oct 10, 2012 7:15am EDT

Oct 10 (Reuters) - Canadian pharmacy chain Jean Coutu Group Inc reported a lower quarterly profit on Wednesday despite higher revenue, because the sale of an investment had boosted earnings in the year-earlier quarter.

Net profit for the second quarter that ended Sept. 1, fell to C$51.2 million ($52.3 million), or 23 Canadian cents a share, from C$66.4 million, or 29 Canadian cents, a year earlier.

Revenue rose to C$658.7 million from C$635.2 million.