TORONTO (Reuters) - Shares of Empire Co Ltd (EMPa.TO: Quote, Profile, Research) jumped on Tuesday after the Canadian company said third-quarter earnings rose 52 percent, meeting expectations with the help of a lower tax rate and same-store results from its Sobeys supermarket unit.

The quarterly profit increased to C$48.6 million ($49.1 million), or 74 Canadian cents per share on a diluted basis, from C$31.9 million, or 48 Canadian cents per share, in the same period last year.

Analysts had expected a profit before exceptions of 72 Canadian cents a share, on average, according to Reuters Estimates.

Shares of Empire, which owns Sobeys, Canada's No. 2 supermarket chain, were up 98 Canadian cents, or 2.7 percent, at C$37.18 amid a broader rise on the Toronto Stock Exchange.

Empire said revenue gained 6.7 percent to C$3.50 billion. Food sales were C$3.44 billion, compared with a restated C$3.23 billion in the year-earlier period, and real estate revenue was C$28.4 million compared with a restated C$21.8 million.

Sales at Sobeys stores open at least one year increased 2.0 percent. Empire also operates stores under such banners as IGA, Foodland and Price Chopper.

The company recorded a C$5.4-million decrease in income tax expenses related to a lower effective tax rate in the period.

Canadian supermarket operators are being hurt by widespread price chopping, a strategy launched by sector leader Loblaw (L.TO: Quote, Profile, Research) to stave off competition from Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research).

Paul Sobey, Empire's chief executive, said in a statement the environment was "increasingly competitive" in both its food and real estate divisions.