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(Deborah Baic/Deborah Baic/The Globe and Mail)
(Deborah Baic/Deborah Baic/The Globe and Mail)

Empire quarterly profit slips Add to ...

Sobey's grocery store chain owner Empire Company Ltd. says first-quarter profit slipped to $81.6-million on lower capital gains.

The company said its earnings amounted to $1.19 per share, an a decrease from $89.7-million, or $1.31 per share a year ago.

Revenue increased by 1.8 per cent to $4.04-billion.

"Empire's operating earnings and financial condition continued to strengthen in the first quarter of fiscal 2011 as a result of continued solid performance from Sobeys and our real estate division," said president and CEO Paul Sobey in a release.

"Moving forward, the focus on our core businesses is unwavering as we work together to build long-term sustainable value."

Real estate revenue in the quarter was up to $19.1-million, up $4-million.

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