Transat profit jumps, says earnings growth to be slower in fourth quarter

Thu Sep 12, 2013 10:01am EDT
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(Reuters) - Canadian travel operator Transat AT Inc TRZa.TO TRZb.TO reported a three-fold jump in third-quarter adjusted profit but said earnings growth in the current quarter would be slower on a sequential basis.

Net income attributable to shareholders rose to C$41.1 million ($39.8 million), or C$1.07 per share, from C$9.4 million, or 25 Canadian cents per share, a year earlier.

Adjusted profit rose to C$30.8 million, or 80 Canadian cents per share, from C$10.5 million, or 28 Canadian cents per share, a year earlier.

Revenue rose 2 percent to C$927.0 million, due mainly to higher average selling prices.

(This story corrects headline and text to show that earnings growth will be slower, not that earnings will be weaker)

($1 = 1.0333 Canadian dollars)

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Ted Kerr)