UPDATE 1-Seacliff posts lower quarterly profit

* Q1 net shr $0.13 vs year-ago C$0.32

* Q1 adj EPS C$0.23

* Q1 revenue C$124.8 mln

May 12 (Reuters) - Seacliff Construction Corp (SDC.TO) posted a lower quarterly profit, and said revenue growth may slow during the year and it will be difficult for it to maintain 2008 margins.

For the first quarter, net income was C$2.8 million, or 13 Canadian cents a share, down from C$5.0 million, or 32 Canadian cents a share, a year ago.

Adjusted income was 23 Canadian cents a share. Revenue rose 27 percent to C$124.8 million.

Analysts, on average, were expecting 21 Canadian cents a share, and revenue of C$102.0 million, according to Reuters Estimates.

Shares of the company closed at C$9.10 Tuesday on the Toronto Stock Exchange.

($1=1.163 Canadian Dollar) (Reporting by A.Ananthalakshmi in Bangalore; Editing by Jarshad Kakkrakandy)