Dollarama profits up in Q4

Dollarama Inc. posted positive results in its fourth quarter with profits climbing to $162.8 million, compared to $146.1 million a year earlier.

Sales totalled $938.1 million, up from $854.5 million, boosted by comparable store sales growth of 5.5 per cent.

With the growth in profits, Dollarama has raised its dividend to 12 cents per share and plans to split its shares.

The Canadian retailer also announced management changes. Stephen Gunn becomes the new chairman of the board, replacing Dollarama founder Larry Rossy, who is now chairman emeritus. Kristin Williams Mugford has been appointed as an independent director.

www.dollarama.com

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