July 29, 2009 / 9:41 PM / 9 years ago

UPDATE 1-Marsulex Q2 profit rises nearly three-fold

* Q2 shr C$0.52 vs C$0.18 year ago

* Revenue falls to C$89.4 mln

July 29 (Reuters) - Canada’s Marsulex Inc MLX.TO said quarterly profit rose nearly three-fold, helped primarily by strength in its Marsulex Environmental Technologies business.

However, the company said it continues to experience lower volumes from certain customers and expects revenue to be lower than 2008 levels for the remainder of the year.

The company reported net income of C$17.3 million ($15.9 million), or 52 Canadian cents a share, compared with C$6.1 million, or 18 Canadian cents a share, for the year-ago period.

Revenue fell slightly to C$89.4 million for the industrial services provider.

Analysts on average expected the company to post a profit of 12 Canadian cents a share, before special items, on revenue of C$75.7 million, according to Reuters Estimates.

Marsulex Environmental Technologies revenue rose 80 percent to C$31.5 million in the quarter.

Marsulex shares, which have gained about 5 percent in the past three months, closed at C$9.55 on the Toronto Stock Exchange.

$1=1.091 CANADIAN DOLLAR Reporting by Krishna Chaithanya in Bangalore; Editing by Anne Pallivathuckal

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