May 11 (Reuters) - Finning International Inc , the world’s largest dealer of Caterpillar Inc equipment, posted a jump in quarterly profit on higher equipment sales.
Finning reported net income of C$72 million, or 42 Canadian cents per basic share, compared with C$27 million, or 16 Canadian cents per basic share, a year ago.
Revenue rose 32 percent to C$1.3 billion, helped mainly by a 60 percent rise in new equipment sales.
Analysts, on average, were expecting Finning to earn 31 Canadian cents per share on revenue of C$1.19 billion, according to Thomson Reuters I/B/E/S.
The company expects revenue to grow, on average, by 10 percent every year over the next three years.
Shares of the Vancouver, British Columbia-based company, closed at C$25.88 on Wednesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Saumyadeb Chakrabarty)