TORONTO, Nov 9 (Reuters) - Franco Nevada said on Monday its quarterly profit rose by 24 percent as a $4.5 million derivatives gain more than offset the impact of lower royalty revenues.
The Toronto-based resource royalty company earned $12.3 million, or 11 cents a share, in its second quarter, ended Sept. 30. That compared with a profit of $9.9 million, or 10 cents a share, in the year-before quarter.
Stripping out items, including the derivatives gain, the company earned $7.3 million, or 7 cents a share, just shy of the 8 cents a share expected by analysts polled by Thomson Reuters I/B/E/S.
Revenue rose 3 percent to $41.1 million as the derivatives gain offset lower royalty revenues.
(Reporting by Cameron French; editing by Peter Galloway) Keywords: FRANCONEVADA/ (cameron.french@thomsonreuters.com; 416-941-8199: Reuters Messaging: cameron.french.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Toronto-based resource royalty company earned $12.3 million, or 11 cents a share, in its second quarter, ended Sept. 30. That compared with a profit of $9.9 million, or 10 cents a share, in the year-before quarter.
Stripping out items, including the derivatives gain, the company earned $7.3 million, or 7 cents a share, just shy of the 8 cents a share expected by analysts polled by Thomson Reuters I/B/E/S.
Revenue rose 3 percent to $41.1 million as the derivatives gain offset lower royalty revenues.
(Reporting by Cameron French; editing by Peter Galloway) Keywords: FRANCONEVADA/ (cameron.french@thomsonreuters.com; 416-941-8199: Reuters Messaging: cameron.french.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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