(Reuters) - Canada’s Wajax Corp WJX.TO, an industrial equipment distributor, reported a higher first-quarter profit, helped by strong performance at all its three segments.
For the quarter ended March 31, net income rose to C$17.1 million ($17.2 million), or C$1.01 per share, from C$12.8 million, or 76 Canadian cents per share, a year ago.
Revenue jumped 18 percent to C$358.1 million.
Sales from its industrial components segment increased 16 percent to C$93.3 million, helped mainly by strong demand from the energy sector in western Canada.
Shares of the Mississauga, Ontario-based company, which also operates in the equipment and the power systems segments, closed at C$49.99 on Monday on the Toronto Stock Exchange. The stock has gained a fifth of its value over the past three months.
Reporting by Maneesha Tiwari in Bangalore; Editing by Maju Samuel