Drop in Canadian Tire profits

Canadian Tire increased retail sales by 3.8 per cent to C$ 2.14 bn (€ 1.48 bn) in the second quarter of 2007. Growth was 1.7 per cent in like-for-like terms. A figure of C$ 88.7 mio (€ 61.3 mio) was put on pre-tax profit for the second quarter, which amounts to a drop of 9.4 per cent on the same period last year.