Sceptre Investment Counsel Ltd. is reporting a profit of $1.05 million for the third quarter ended August 31, up from $930,000 a year ago.

The investment management firm said today it earned 7¢ a share for the three months ended Aug. 31, the same as a year earlier.

Revenue dropped to $5.8 million from $6.6 million.

“The improvements to our investment performance and the ongoing cost containment program have been successfully executed, but asset losses have continued due to changes in industry practices and sub-par performance in our externally managed funds,” said CEO Richard Knowles, in a release.

The firm has about $7.3 billion in assets under supervision.