The Canadian Press reports that manufactured community owner Killam Properties (TSX:KMP) of Halifax, Nova Scotia, Canada says its earned net income for Q1 2011 was $16.5 million, up from last year’s first quarter of $6.4 million. The share valued increased year over year from .16 cents a share to .35 cents a share, Q1 2011. Property revenue gained 11.6 percent, while funds from operations went up from $5.8 million to $6.5 million, a 12.5 percent hike. Killam’s Chief Executive Officer (CEO) and president, Philip Fraser, said he anticipates acquisitions in the Atlantic Canada and Ontario region in the second half of the year. Killam owns 9,290 home sites according to George F. Allen’s 2011 Allen Report, ranking 17th largest.