Wescast profit falls on higher costs, taxes

Newswire

TORONTO, April 22 (Reuters) - Wescast Industries Inc. reported a narrower first-quarter profit on Tuesday, because of higher income taxes and costs at new facilities. Wescast, the world's No. 1 manufacturer of exhaust manifolds for cars and light trucks, said net earnings were C$10.7 million ($7.4 million), or 76 Canadian cents a share, down from C$18.5 million, or C$1.39 a share, for the same period last year. Revenue at the Brantford, Ontario-based company rose 19 percent to C$125.2 ...

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