May 6, 2008 / 6:28 PM / in 10 years

Finning International profit up despite strong C$

TORONTO, May 6 (Reuters) - Finning International Inc (FTT.TO) said on Tuesday that first-quarter profit rose by 1 percent, with results helped by nonrecurring items such as gains on property sales, but hurt by the strength of the Canadian dollar.

The company, which sells and rents heavy industrial equipment and engines, said net income was C$70.8 million in the three months ended March 31, or 40 Canadian cents per share.

That was up from profit of C$69.9 million, or 39 Canadian cents a share, in the year-earlier period.

Finning also boosted its quarterly dividend to 11 Canadian cents per share from 10 Canadian cents, and affirmed that it was on track to meet its 2008 earnings forecast of C$1.70 to C$1.80 a share. ($1=$1.00 Canadian) (Reporting by Lynne Olver; Editing by Peter Galloway)

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