UPDATE 1-Mexico's ICA 3rd-qtr profit surges on asset sales

Thu Oct 27, 2011 9:42am EDT

* ICA's third-quarter profit hits 905 mln pesos

* Revenues rise 22 percent to 11.424 bln pesos

MEXICO CITY, Oct 27 (Reuters) - Mexican construction firm ICA said on Thursday its third-quarter profit surged more than 14 times from the same period last year, boosted by the sale of a toll road to the Panamanian government.

ICA earned 905 million pesos ($65 million) in the July-September period, compared with 62 million pesos in the same quarter of last year, according to a statement filed with the Mexican stock exchange.

Revenue jumped more than 22 percent to 11.424 billion pesos.

In August, ICA's Panamanian subsidiary sold a toll road to the Panama government for $420 million.

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