Canadian Tire reports 18.4% earnings rise

TORONTO Canadian Tire Corp. today reported second quarter net earnings of $122.3 million, an increase of 18.4% compared to $103.3 million in the second quarter of 2006. Excluding non-operating gains and losses, net earnings were $109.6 million, an increase of 9.1% compared to $100.6 million last year.

Basic earnings per share were $1.50, an increase of 18.5% compared to $1.27 for the previous year. Excluding non-operating gains and losses, adjusted basic earnings per share increased 9.2% to $1.35 compared to $1.23 the previous year.