May 14, 2008 / 5:58 PM / 9 years ago

UPDATE 1-Vector Aerospace profit rises slightly

(Adds details)

TORONTO, May 14 (Reuters) - Vector Aerospace RNO.TO reported a slightly higher first-quarter profit on Wednesday as strong results from its North American helicopter unit and its fixed-wing business in Britain helped overcome the effects of the rising Canadian dollar.

The aviation repair company said it earned C$3.8 million ($3.8 million), or 10 Canadian cents a share, for the quarter, up from C$3.2 million, or 8 Canadian cents a share, a year earlier.

Revenue was C$84.5 million, up from C$83.1 million for the same period last year.

The company said the strong performances from the two divisions helped offset the effects of the Canadian dollar, which was much stronger than in the year-earlier quarter.

The lightly traded shares of Vector were up 13 Canadian cents at C$5.94 on the Toronto Stock Exchange on Wednesday afternoon. ($1=$1.00 Canadian) (Reporting by Scott Anderson; Editing by Peter Galloway)

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