May 7, 2008 / 1:28 PM / 9 years ago

Industrial Alliance profit rises on tax gains

TORONTO, May 7 (Reuters) - First-quarter profit rose 6.6 percent at Industrial Alliance Insurance and Financial Services (IAG.TO), helped by tax gains, the company said on Wednesday.

Industrial Alliance, which sells life insurance and manages mutual funds, said it earned C$61.7 million, or 76 Canadian cents a share, in the three months ended March 31.

That compared with C$57.9 million, or 72 Canadian cents a share, in the same 2007 period. ($1=$1.00 Canadian) (Reporting by Cameron French; editing by Renato Andrade)

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