February 24, 2011 / 6:34 PM / 7 years ago

UPDATE 1-Toromont Industries profit, sales rise

OTTAWA, Feb 24 (Reuters) - Industrial equipment supplier Toromont Industries Ltd TIH.TO reported a 13 percent increase in quarterly profit on Thursday and said the outlook for 2011 is “positive”.

The company, which sells, rents and services a broad range of Caterpillar Inc CAT.N heavy construction and industrial equipment, said it earned C$35.4 million ($36.1 million), or 47 Canadian cents a share, in the fourth quarter ended Dec. 31.

That compares with a profit of C$31.4 million, or 48 Canadian cents a share, in the same period last year. when it had a smaller share count.

Revenue was up 57 pct at C$709.7 million.

$1=$0.98 Canadian Reporting by Susan Taylor; editing by Peter Galloway

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