August 2, 2012 / 1:42 PM / 6 years ago

CCL Industries profit rise on strong label business

* Q2 EPS C$0.76 vs C$0.66 year ago

* Revenue rises 6 pct

Aug 2(Reuters) - Specialty packages maker CCL Industries Inc’s quarterly profit rose 19 percent on higher demand for its label, tube and container products in North America.

Net income rose to C$25.9 million, or 76 Canadian cents per Class B share, from C$21.8 million, or 64 Canadian cents per share, a year earlier.

Revenue rose 6 percent to C$337.1 million.

CCL’s label business, which contributed 80 percent of the total revenue, posted a 5 percent higher revenue at C$267,247.

The company, which also makes aluminum containers and plastic tubes, said double-digit growth in North America was offset by lower gains in Europe.

Revenue from the container business was up 13 percent while that of the tube business rose 6 percent.

Shares of the Toronto-based company, which has a market value of C$1.21 billion, were down 1 Canadian cent at C$35.49 on Thursday on the Toronto Stock Exchange.

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