Dollarama Group L.P. Q4 sales rise 12 per cent

Dollarama Group L.P. said sales grew 12 per cent and profits were up nine per cent in the fourth quarter.

MONTREAL — Dollarama Group L.P. said sales grew 12 per cent and profits were up nine per cent in the fourth quarter.

The Montreal based discount retail chain said sales were $315.5 million for the 13-week period ended Feb. 1, 2009 versus $281.4 million for the 13-weeks ended Feb. 3, 2008.

Comparable store sales rose 4.8 per cent year-over-year.

Net profit was $30.3 million versus $27.7 million the year before, which the company said was due to sales growth and lower interest costs.

“Higher cost of goods sold, higher general administration and store expenses, and a foreign exchange loss on derivative financial instruments and long-term debt partially offset the earnings increase,” the company stated Friday.

Annual sales were $1.1 million compared to $972,352 for the year earlier period. Annual profit was $90.1 million versus $76.8 million the year before.

Dollarama is privately held and has more than 565 stores across the country.