W.R. Grace profit beats estimates on higher pricing

(Reuters) - Chemical maker W.R. Grace & Co (GRA.N) reported a better-than-expected quarterly profit as it raised prices to offset higher raw materials and manufacturing costs.

Sales from emerging markets, which contribute more than a third of W.R. Grace's total sales, grew 13 percent in the second quarter, the company said.

Revenue at its construction products business rose 6 percent for April-June, propelled by strong sales in Asia, Latin America and the Middle East.

Revenue at its biggest business, which includes specialty catalysts and additives used in refinery and plastics industries, fell 2 percent.

Total revenue remained almost flat at $826.7 million.

Net income fell 9 percent to $69.3 million, or 90 cents per share.

Excluding items, the company earned $1.14 a share.

Analysts on average had expected the company to earn $1.11 cents per share on revenue of $816.2 million, according to Thomson Reuters I/B/E/S.

The Columbia, Maryland-based company's shares, which have gained about 67 percent of its value in the last nine months, closed at $50.50 on Tuesday on the New York Stock Exchange. (Reporting by Sunayan Bhattacharjee in Bangalore; Editing by Don Sebastian)