August 7, 2012 / 9:28 PM / 5 years ago

Brookfield Residential profit up on new orders, higher prices

Aug 07 (Reuters) - Brookfield Residential Properties Inc reported a 16 percent increase in second-quarter profit on improved selling prices and higher order bookings.

Second-quarter net income for the North American homebuilder rose to $21.8 million, or 22 cents per share, from $19.3 million, or 19 cents per share, a year earlier.

Revenue rose 5 percent to $248.3 million.

Shares of Brookfield, which went public in April 2011, closed at C$11.50 on Tuesday on the Toronto Stock Exchange.

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