UPDATE 1-Watts Water Q2 profit beats Wall Street View

* Q2 adj EPS from cont ops $0.57 vs est $0.48

* Q2 sales up 5 pct at $324 mln

Aug 3 (Reuters) - Plumbing products supplier Watts Water Technologies (WTS.N) posted a better-than-expected quarterly profit, driven by an increase in sales in its Chinese and North American segments.

For the second quarter ended July 4, the company posted earnings from continuing operations of $22.2 million, or 59 cents a share, compared with $15.2 million, or 41 cents a share, in the year-ago period.

Excluding items, Watts earned 57 cents a share.

Sales rose 5 percent to $324 million.

Analysts on average were expecting Watts Water to earn 48 cents a share on revenue of $326.4 million, according to Thomson Reuters I/B/E/S.

For the quarter, the company posted a sales increase of 19 percent in its Chinese segment and a 6 percent rise in North American segment.

Shares of the North Andover, Massachusetts-based company closed $32.41 on the New York Stock Exchange. (Reporting by Siddharth Cavale in Bangalore; Editing by Maju Samuel)