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Jean Coutu Group fiscal Q3 profit climbs YOY

The Jean Coutu Group (PJC) Inc. said its normalized net income for the fiscal third quarter ended Nov. 28, 2015, came to 26 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS increased year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$49.5 million, a gain from C$48.0 million in the year-earlier period.

The normalized profit margin climbed to 6.8% from 6.7% in the year-earlier period.

Total revenue rose year over year to C$724.3 million from C$712.2 million, and total operating expenses increased from the prior-year period to C$645.5 million from C$635.5 million.

Reported net income increased on an annual basis to C$57.9 million, or 31 cents per share, from C$56.0 million, or 30 cents per share.