May 12, 2011 / 12:36 PM / in 6 years

UPDATE 1-Whistler Blackcomb Q2 profit falls on higher costs

* Q2 profit C$38.9 mln vs C$67.4 mln last year

* Q2 resort rev up 36 pct at C$113.03 mln

May 12 (Reuters) - Canadian ski resort operator Whistler Blackcomb Holdings posted a 42 percent fall in its quarterly earnings, hurt by higher costs.

Whistler Blackcomb, a two-mountain ski resort in British Columbia, posted a net income of C$38.9 million for the January-March quarter, down from an income of C$67.4 million, a year ago.

The company, which debuted on the Toronto Stock Exchange last November, earned C$1.03 a share in the latest second quarter, but did not give a per-share figure for the comparable quarter.

Whistler Blackcomb, which hosted some 2010 Winter Olympics events, said resort revenue rose 36 percent to C$113.03 million, driven by increases in both skier visits and higher ticket prices.

Operating expenses were up 13 percent at C$44 million, primarily due to increases in labor and benefit costs.

Whistler Blackcomb shares closed at C$11.90 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Maju Samuel)

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