June 13, 2011 / 10:46 PM / 7 years ago

UPDATE 1-Vicwest Q1 profit rises on margins

* Q1 EPS C$0.15 vs est C$0.11

* Q1 rev up 7.8 pct at C$82.1 mln

June 13 (Reuters) - Canada’s Vicwest Inc posted an 11 percent jump in quarterly profit, handily beating estimates, helped partly by higher gross profit margins, but said its growth will be hit by higher raw material prices.

Vicwest, which supplies building construction materials and makes containers for grain and fertilizer, said it expected second-quarter revenue to be boosted by stronger backlogs.

First-quarter profit was C$2.7 million ($2.8 million), or 15 Canadian cents per share, compared with C$2.4 million, or 14 Canadian cents per share, a year ago.

Revenue rose 7.8 percent to C$82.1 million.

Gross margin was 19.3 percent, up from 18.8 percent from a year ago.

Analysts on average expected earnings of 11 Canadian cents per share on revenue of C$79.8 million, according to Thomson Reuters I/B/E/S.

Shares of Oakville, Ontario-based Vicwest closed at C$12.69 on Monday on the Toronto Stock Exchange.

$1 = 0.980 Canadian Dollars Reporting by Abhiram Nandakumar in Bangalore

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