Royal posts higher profits

Royal Group Technologies Ltd.’s stock price rose on a report of a second-quarter profit of $35.5 million on revenues of $554.7 million. The profit compares to a $1.6 million loss for the same period last year. Royal CEO Douglas Dunsmuir said the company continued to make progress with its turnaround and the twin objectives of increasing sales and reducing debt. Dunsmuir also noted that the high cost of raw materials is impeding a return to higher profit levels.