Tuesday, April 28, 2009

Shoppers Drug Mart profit rises on prescriptions

From Reuters:
Shoppers Drug Mart (SC.TO), Canada's biggest pharmacy chain, reported a higher quarterly profit on Tuesday as sales of prescription drugs and beauty care products rose.

Shoppers said it earned C$106.8 million ($87.5 million), or 49 Canadian cents a share, for the quarter ended March 28, up from C$100.7 million, or 46 Canadian cents a share, for the same period last year, which included the high-sales Easter weekend. The Easter holiday weekend did not fall in the first quarter this year.

Revenue rose 8.5 percent to C$2.2 billion, with same store sales rising 4 percent.

Analysts were expecting, on average, earnings per share of 48 Canadian cents before items and revenue of C$2.16 billion.

The company's shares, which have fallen 11.4 percent in the past year, were up 2.7 percent at C$45.34 on the Toronto Stock Exchange on Tuesday. ...more

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