The Globe and Mail reports in its Monday edition profit growth and positive earnings surprises were disappointing among Toronto Stock Exchange stocks in the second quarter. The Globe's Jennifer Dowty writes sales and earnings growth were negative over all, with fewer than half of companies reporting better-than-expected sales and earnings results. This earnings season was worse than the previous quarter in terms of sales growth, particularly for financial stocks. Sales growth was spotty across many sectors and rather difficult to find. Sales, on average, declined 15 per cent year-over-year. Double-digit sales declines were seen in the financials and energy sectors. On the positive side, the health-care sector delivered strong sales growth driven by solid gains from Valeant Pharmaceuticals International. Valeant reported revenue growth of 34 per cent year-over-year. Of that, same-store sales organic growth was 19 per cent. Concordia Healthcare reported revenue growth of 198 per cent, rising to $77.5-million (U.S.) from $26.1-million (U.S.) in the previous year. Leadership was also evident in the telecom sector, with Telus, Rogers Communications and BCE all reporting top-line growth.