November 3, 2010 / 9:49 PM / 7 years ago

REFILE-UPDATE 1-Canada's Marsulex Q3 profit rises

(Refiles to remove extraneous word from headline)

* Q3 earnings C$0.28/basic shr vs C$0.23 a yr ago

* Q3 rev up 12 pct at $76.1 mln

* Says strategic review continues

Nov 3 (Reuters) - Canada’s Marsulex Inc MLX.TO, which provides environmental compliance solutions to industries, posted a 22 percent rise in quarterly profit, helped by strong demand from pulp customers and a rise in volume of sulphur-based products.

The company posted net income from continuing operations of C$9.4 million, or 28 Canadian cents per basic share, compared with net income of C$7.7 million, or 23 Canadian cents per basic share, a year ago.

Revenue for the quarter rose 12.2 percent to C$76.1 million.

The company said industrial services EBITDA for the quarter rose about 19 percent to $11.5 million.

Marsulex, which had earlier in the year said it began a review of options including a sale of all or part of its business, continues to look for strategic alternatives.

In September, Marsulex said it agreed to sell its Stablex division, a provider of hazardous waste services, to US Ecology Inc (ECOL.O) for C$80 million to repay debt. [ID:nSGE68C0HS]

Shares of Toronto-based Marsulex, which have gained 6 percent in value since the sale of Stablex was announced in September, closed at C$11.62 Wednesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur and Aftab Ahmed in Bangalore; Editing by Gopakumar Warrier)

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