October 26, 2011 / 12:12 PM / in 6 years

UPDATE 1-FirstService posts lower Q3 profit

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Oct 26 (Reuters) - Canadian property manager FirstService Corp posted lower quarterly profit, hurt by rising expenses.

The company reported third-quarter net earnings of $13.8 million, or 17 cents a share, compared with $ 14.4 million, or 18 cents a share, last year.

On an adjusted basis, the company earned 61 cents a share.

Revenue rose 10 percent to $585.4 million.

Shares of the company closed at C$27.65 on Tuesday on Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Supriya Kurane)

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