January 25, 2012 / 9:58 PM / in 6 years

UPDATE 2-Exco Technologies Q1 profit doubles

(Adds details on segment sales)

Jan 25 (Reuters) - Canadian auto parts maker Exco Technologies Ltd’s first-quarter profit more than doubled helped by a strong demand for its products across segments.

Net income rose to C$5.3 million, or 13 Canadian cents per share, compared with C$2.1 million, or 5 Canadian cents per share, a year ago.

Exco, which makes die casts, moulds and components for the die-cast, extrusion and automotive industries, said revenue rose 29 percent to C$58.5 million.

Sales at the company’s automotive solutions segment, which makes interior trim components mainly for passenger and light truck vehicles, rose 34 percent to C$36.8 million.

The casting and extrusion segment reported sales of C$21.7 million, up 22 percent from last year.

Shares of the Ontario-based company -- which has operations in Canada, U.S., Mexico and Colombia -- closed at C$3.60 on Wednesday on the Toronto Stock Exchange. The stock has risen 9 percent so far this year. (Reporting by Ankur Banerjee in Bangalore; Editing by Roshni Menon)

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