August 2, 2011 / 9:49 PM / in 7 years

UPDATE 2-Mercer Q2 profit up on higher energy sales, pulp prices

* Q2 EPS 32 euro cents vs 34 euro cents yr ago

* Q2 rev down 3 pct at 231.2 mln euros

* U.S.-listed shares up 2 percent in after-mkt trade (Adds details on pulp prices, energy sales)

Aug 2 (Reuters) - Canadian pulp producer Mercer International MRIu.TO posted a higher quarterly profit as energy revenue and higher pulp prices offset low seasonal demand for pulp through the summer months.

The net profit rose 16 percent to 14.4 million euros ($20.5 million), or 32 euro cents per share.

The company, which was one among the 24 pulp producers that qualified for credits under the Canadian government’s Green Transformation Program in 2009, said energy revenue rose 17 percent to 13.9 million euros, helped mainly by higher sales from its Celgar mill in British Columbia, which produces and sells renewable energy.

Total revenue fell 3 percent to 231.2 million euros on lower revenue from its pulp segment.

Mercer, which produces and markets northern bleached softwood kraft (NBSK), the paper industry’s benchmark for pulp, said NBSK list prices rose by $45 per ADMT (air dried metric ton) in Europe and $30 in China.

Analysts on average had expected earnings of 34 euro cents a share on revenue of 232 million euros, according to Thomson Reuters I/B/E/S.

The company’s U.S.-listed shares, which have lost 32 percent of their value in the last six months, were up 2 percent at $9.39 in after-market trade on Tuesday. They had closed at $9.21 on Nasdaq.

$1 = 0.703 Euros Reporting by Maneesha Tiwari in Bangalore; Editing by Maju Samuel

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