Dollarama has recorded a major first quarter profit.
The Montreal-based retailer’s net income rose by 28.4 per cent to $83.2 million. That`s up from $64.8 million.
Revenue was up 13.2 per cent to $641 million from $566.1 million – much of that however, can be attributed to the fact that the company grew it’s retail network grew to 1,038 stores from 972 in 2015.
Profit in the first quarter was equal to 63 cents per share of net income, up from 50 cents a year earlier.
The company says its profit has been helped by the higher revenue as well as improved margins, which rose to 37 per cent of revenue from 36 per cent a year earlier.