RTRS:UPDATE 1-Silver Wheaton Q1 profit jumps on higher prices
May 9 (Reuters) - Silver Wheaton Corp's first-quarter profit jumped 142 percent, helped by strong silver prices, and the company said it expects increased silver deliveries throughout 2011.
Net profit more than doubled to $122.2 million, or 34 cents a share, from $50.6 million, or 13 cents a share, a year ago.
Sales for the company, which buys silver byproduct from other miners and resells it, rose 84 percent to $158.2 million.
Operating cash flows were up 121 percent to $127.2 million, or 36 cents a share.
Average realized silver price rose 85 percent over the same period last year.
Shares of the Vancouver-based company closed at C$34.64 on Friday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay; Editing by Don Sebastian)
