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MONTREAL - Yellow Pages Income Fund (TSX:YLO.UN) has booked a five per cent increase in first-quarter earnings, which rose to $127 million, with online sales shooting up at a much faster pace than the company's overall revenue growth.

The directory provider said Thursday its results "were driven by operational efficiencies, organic revenue growth and additional revenue contribution from recent business acquisitions."

Overall revenue rose eight per cent to $414.6 million, including $53.5 million from online businesses, or nearly 13 per cent of the total. The online revenue was up 48 per cent from a year earlier.

Operating profit grew by 7.5 per cent over a year ago to $171.4 million.

Net income amounted to 24 cents per unit, up from 23 cents per unit or $121 million or 23 cents per unit in the first quarter of 2007, when total revenue was $384.2 million.

"Our first-quarter performance underlines the overall confidence we have in the company, its strategic positioning and in its business fundamentals," Yellow Pages Group CEO Marc Tellier stated.

In an effort to turn the tide, the income trust announced at the end of March a plan to buy back units from the open market.