June 2, 2011 / 11:40 AM / in 6 years

UPDATE 1-Stella Jones Q1 profit rises on railway tie sales

* Q1 EPS C$0.53 vs C$0.45

* Q1 sales up 31.3 pct to C$130.5 mln (Follows alerts)

June 2 (Reuters) - Stella-Jones Inc, a maker of treated wood products, reported a 47 percent rise in first-quarter profit helped mainly by stronger railway tie sales.

The Canadian company, which makes poles and railroad ties by treating wood it buys from sawmills, reported a net income of C$8.5 million, or 53 Canadian cents a share, compared with C$5.8 million, or 45 Canadian cents a share, a year ago.

Sales rose 31.3 percent to C$130.5 million, as railway tie sales nearly tripled to $76.5 million.

Shares of the Montreal, Quebec-based company closed at C$35.5 on Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Roshni Menon)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below