September 13, 2011 / 1:58 PM / 6 years ago

UPDATE 1-Discovery Air posts higher Q2 profit

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* Q2 EPS C$0.10 vs C$0.08 last year

* Rev rises 23 pct to C$70.7 mln

* Shares up 6 pct

Sept 13 (Reuters) - Discovery Air Inc DAa.TO posted a higher quarterly profit helped by strong demand for flight services in northern Canada and Peru, sending the company’s shares up over 6 percent on Tuesday morning.

For the second quarter, the company earned C$18 million, or 10 cents a share, compared with C$11.3 million, or 8 cents a share, in the year ago period.

Revenue rose by 23 percent to C$70.7 million.

Analysts on average were expecting earnings of 9 cents a share on revenue of C$66.4 million, according to Thomson Reuters I/B/E/S.

Discovery Air provides specialized air transport, logistics and remote operations management services to corporate customers and government agencies.

The Ontario-based company’s shares were trading up 6 percent at C$0.50 on Tuesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Roshni Menon)

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