August 7, 2008 / 1:29 PM / 9 years ago

Dorel reports rise in second-quarter profit

(Figures in U.S. dollars unless noted)

OTTAWA, Aug 7 (Reuters) - Dorel Industries (DIIb.TO) said on Thursday that second-quarter profit nearly tripled as it recorded a dramatically smaller restructuring charge and stronger sales of its bikes and kids’ equipment.

    The company, which makes children’s products, home furnishing and recreation goods, earned $31.3 million, or 94 cents a share, in the period ended June 30. That compares with a profit of $10.8 million, or 32 cents a share, in the same period last year.

    Excluding restructuring charges, profit rose to C$31.9 million, or 96 cents a share, from $19.8 million, or 59 cents a share. ($1=$1.05 Canadian) (Reporting by Susan Taylor; editing by Janet Guttsman)

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