May 8, 2008 / 3:08 PM / 10 years ago

UPDATE 1-Yellow Pages profit rises on growth, acqusitions

(Adds details, comments, unit price)

TORONTO, May 8 (Reuters) - Phone directories company Yellow Pages Income Fund YLO_u.TO reported a higher first-quarter profit on Thursday, thanks to both internal growth and recent acquisitions.

Yellow Pages said it earned C$127 million ($125.7 million), or a basic 24 Canadian cents per unit, in the three months ended March 31. That was up from C$121 million, or a basic 23 Canadian cents per unit, in the same period a year earlier.

“The company’s performance continues to benefit from both organic growth and the contribution of new acquisitions, notably Aliant Directory Services, acquired in April 2007,” the company said in a statement.

Revenue rose to C$414.6 million from C$384.2 million.

“Our first quarter performance underlines the overall confidence we have in the company, its strategic positioning and in its business fundamentals,” Chief Executive Marc Tellier said in a statement.

Yellow Pages units were up 19 Canadian cents at C$10.89, on the Toronto Stock Exchange. ($1=$1.01 Canadian) (Reporting by Wojtek Dabrowski; editing by Rob Wilson)

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