REFILE-Pharmacy chain Jean Coutu's profit rises as costs, taxes drop

Thu Jan 9, 2014 8:43am EST

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(Corrects to change date to Jan. 9 from Jan. 8)

Jan 9 (Reuters) - Canadian pharmacy chain Jean Coutu Group Inc reported an 11 percent rise in third-quarter profit, helped by a fall in expenses and a lower tax bill.

Net profit for the quarter rose to C$62.5 million ($57.88 million), or 30 Canadian cents per share, for the quarter ended Nov. 30, compared with C$56.2 million, or 26 Canadian cents per share, a year earlier.

The Longueuil, Quebec-based company said revenue fell 0.6 percent to C$712.5 million. Cost of sales fell about 2 percent.

The company's tax bill fell 9.6 percent in the quarter. ($1 = 1.0799 Canadian dollars) (Reporting by Sneha Banerjee in Bangalore; Editing by Savio D'Souza)

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