April 18, 2011 / 10:51 PM / 7 years ago

UPDATE 1-Teck profit lifted by strong copper, coal prices

TORONTO, April 18 (Reuters) - Teck Resources TCKb.TO reported first-quarter adjusted earnings that more than doubled and topped expectations on Monday, largely driven by coal and copper prices.

Excluding one-time items, Teck said quarterly earnings rose to C$450 million, or 76 Canadian cents a share, compared with a year-ago profit of C$198 million, or 34 Canadian cents a share.

Analysts, on average, had forecast earnings of 74 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Net income in the quarter ended March 31 fell to C$461 million, or 78 Canadian cents a share, down from C$896 million, or C$1.51 a share a year ago, when results were boosted by a large gain from the sale of a stake in the Waneta Dam in British Columbia. (Reporting by Euan Rocha)

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