Thursday, June 2, 2011

Sprott Inc Reports a 66-per-cent jump in First Quarter Profit

Canadian asset manager Sprott Inc. reported a 66-per-cent jump in first-quarter profit, helped by a rise in assets under management.

Net income rose to $10.6 million, or 7 cents a share, from $6.4 million, or 4 cents a share, a year ago. Total revenue rose 54 per cent to $39.5 million.

Assets under management for the hedge fund manager rose 88 per cent to $9.7 billion.

Shares of Sprott, which was founded by Bay St. contrarian investor Eric Sprott and taken public in 2008, closed at $8.66 on Wednesday on the Toronto Stock Exchange.

- Montreal Gazette

(5 gm) .999 Fine Gold Bar - (With Assay Card) PAMP SUISSE