Sprott profit soars on investment gains

Asset manager Sprott Inc.'s (SII-T) first-quarter profit rose about 60 percent, helped in part by investment gains.

Sprott, one of Canada's best-known resources investment companies, said net income rose to $16.9 million, or 10 cents a share, from $10.6 million, or 7 cents a share, a year ago.

Total revenue jumped 12 percent to $44.4 million.

Gains from proprietary investments, which include investments in bullion and funds that Sprott manages, increased to $4.2 million from $0.4 million.

Assets under management as of March 31 were unchanged at $9.7 billion.