May 7, 2010 / 11:25 AM / in 8 years

UPDATE 1-Premium Brands Q1 profit down 12 pct on higher expenses

* Q1 EPS C$0.10 vs C$0.12 yr ago

* Q1 revenue up 6 pct

May 7 (Reuters) - Canadian food products maker Premium Brands Holdings Corp PBH.TO reported a 12 percent drop in quarterly profit, hurt by higher expenses.

For the first quarter, the company earned C$1.8 million, or 10 Canadian cents a share, compared with C$2.1 million, or 12 Canadian cents a share, a year ago.

Excluding items, it earned 12 Canadian cents a share.

Revenue rose 6 percent to C$109.7 million. Analysts on average were expecting earnings of 14 Canadian cents a share, on revenue of C$106 million, according to Thomson Reuters I/B/E/S.

The company said selling, general and administrative expenses at it retail segment rose 7 percent to C$10.6 million, while it increased 11 percent at the foodservice segment to C$9 million.

Shares of the company closed at C$13.00 Thursday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel)

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