Sceptre Investment Counsel Ltd. today said its profit in the third quarter ended Aug. 31 was $2.2 million, a 59% gain from year-earlier earnings of $1.4 million.

The independent money management firm declared a dividend of 12 cents a share on common shares, payable Oct. 31 to shareholders of record Sept. 27, 2007. The previous quarterly dividend was nine cents.

Revenue rose to $10.2 million from $7.1 million a year earlier, a 44% gain.

“Our revenue improvement in the quarter was gratifying as new assets, funded in the previous quarter, generated a full period of fees. Cost containment efforts also yielded positive results,” stated Richard Knowles, president and CEO. “I am very pleased with our financial results and investment performance during the quarter. I would also like to note that Sceptre and its clients have no exposure to non-bank asset-backed commercial paper.”

Knowles added, “Increased market volatility as a result of ongoing credit concerns dampened investment returns across most equity markets. Additionally, the continuing strength of the C$, again, adversely affected foreign equity returns. I anticipate that markets will remain unsettled over the next few months.”