April 25, 2012 / 9:08 PM / 6 years ago

UPDATE 1-Exco Technologies profit rises on strong demand

April 25 (Reuters) - Canadian auto parts maker Exco Technologies Ltd’s quarterly profit rose 33 percent on higher demand from American and Asian customers.

Second-quarter net income rose to C$6.5 million, or 16 Canadian cents per share, from C$4.9 million, or 12 Canadian cents per share, last year.

Exco, which makes die casts, moulds and components for the die-cast, extrusion and automotive industries, said sales rose nearly 17 percent to C$63.2 million.

Automotive and industrial markets created strong demand for Exco’s products, particularly in the Americas and Asia, it said in a statement.

Exco’s shares, which have gained 50 percent of their value till date, closed at C$5.07 on Wednesday on the Toronto Stock Exchange.

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