July 8 Canadian pharmacy chain Jean Coutu Group
Inc reported a higher quarterly sales, helped by
demand for its high-margin generic drugs and the expansion of
its network of franchised stores.
The Longueuil, Quebec-based company's revenue rose 1 percent
to C$688.6 million.
Net profit halved to C$54.1 million ($50.64 million), or 29
Canadian cents per share, in the first quarter ended May 31,
from C$108.6 million, or 51 Canadian cents per share, a year
The company had reported a gain of C$54.4 million related to
the investment in Rite Aid a year earlier.
($1 = 1.0684 Canadian Dollars)
(Reporting By Shubhankar Chakravorty in Bangalore)