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Loblaw's quarterly profit rises 25.5 percent

Reuters
People walk by a Loblaw Companies Limited grocery store with a Joe Fresh clothing store inside, on the day of the annual general meeting of shareholders in Toronto, May 2, 2013. REUTERS/Mark Blinch (Reuters)

(Reuters) - Canadian grocery and pharmacy retailer Loblaw Cos Ltd reported a 25.5 percent rise in quarterly profit, helped by a drop in expenses and improved performances by its financial services and property businesses. Adjusted net earnings attributable to shareholders rose to C$512 million ($380 million), or C$1.26 per share, in the third quarter ended Oct. 8, from C$408 million, or 98 Canadian cents per share, a year earlier. Revenue rose 1.4 percent to C$14.14 billion due to lowered prices. (Reporting by John Benny in Bengaluru; Editing by Martina D'Couto)