Asset manager Sprott's profit plunges on lower management fees

Thu Aug 9, 2012 7:26am EDT
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(Reuters) - Canadian asset manager Sprott Inc's (SII.TO: Quote) second-quarter profit fell 90 percent on lower management fees.

Net income fell to C$700,000, or breakeven per share, for the April-June quarter, from C$7.5 million, or 4 Canadian cents per share, a year earlier.

Total revenue fell 30 percent to C$27.4 million.

(Reporting by Shounak Dasgupta in Bangalore; Editing by Supriya Kurane)