November 3, 2011 / 8:35 PM / in 7 years

UPDATE 1-Russel Metals Q3 profit rises

Nov 3 (Reuters) - Canada’s Russel Metals posted higher quarterly profit, helped by growing demand in its metals segment.

For the third quarter, the company posted net earnings of C$25.7 million, or 43 Canadian cents a share, compared with C$8.2 million, or 14 Canadian cents a share, in the year-ago period.

Revenue increased almost 17 percent to C$705.4 million. Analysts, on average, had expected revenues of C$647.7 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at C$23.38 on Thursday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore;Editing by Supriya Kurane)

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