May 10, 2011 / 11:41 AM / in 7 years

UPDATE 1-Rocky Mountain Q1 profit up 52 percent

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May 10 (Reuters) - Canada’s Rocky Mountain Dealerships Inc , a construction and agriculture equipment broker, posted a 52 percent rise in its first-quarter profit, helped by higher new and used equipment sales.

The company, which sells, rents, and leases new and used construction and agriculture equipment, said Matt Campbell has resumed the role of chief executive.

Campbell was replaced as CEO by Brian Taschuk in the beginning of the year. Taschuk has resigned for personal reasons, the company said in a statement. [ID:nSGE6A80LR]

Rocky Mountain’s January-March net income was C$2.7 million, or 14 Canadian cents a share, compared with C$1.8 million, or 10 Canadian cents a share, a year ago.

Revenue rose 31 percent to C$157.6 million. Revenue from new units rose 37 percent, while revenue from used units rose 22 percent.

Analysts on average were expecting the company to earn 13 Canadian cents per share on revenue of C$145.61 million according to Thomson Reuters I/B/E/S.

Shares of the Calgary, Alberta-based company closed at C$9.95 on Monday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Jarshad Kakkrakandy)

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