TORONTO - Canadian Tire Corp. Ltd. (TSX:CTC) has reported a small increase in fourth-quarter revenue, but also an almost two per cent drop in net profit in the final three months of the year. The Toronto-based retailer of general merchandise, clothing and sporting goods as well as automotive products and services says net income in the three months ended Dec. 29 was $163.1 million or $2 per diluted share. That was down 1.9 per cent from $166.3 million or $2.03 per diluted share in the same 2011 period. Revenue rose $1.4 per cent to $3.78 billion from just under $3.73 billion in the year-earlier period.
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