September 15, 2010 / 2:22 PM / in 7 years

UPDATE 1-Discovery Air posts higher Q2 results; shares up

* Q2 EPS C$0.09 vs C$0.06 last year

* Rev up 28 pct

* Shares rise 36 pct

Sept 15 (Reuters) - Discovery Air Inc DAa.TO posted a 48 percent jump in quarterly profit, helped by increased demand for resource and forest fire-based services, sending the Canada-based aviation company’s shares up 36 percent.

Discovery Air provides specialized air transport, logistics and remote operations management services to corporate customers and government agencies.

The company earned C$11.8 million or 9 Canadian cents a share, in the second quarter, up from C$8 million, or 6 Canadian cents a share, last year.

Revenue rose 28 percent to C$58.4 million.

The Ontario-based company’s shares, which have gained 27 percent in value since its 52-week low in December, were up 7.5 Canadian cents at 28.5 Canadian cents Wednesday morning on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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