May 15 (Reuters) - Grupo SURA, one of

Colombia's largest investment companies, reported on Wednesday a

4.9 trillion peso ($1.3 billion) first quarter net profit, up by

489% from the year-ago period and driven mainly by non-recurring

transactions.

Quarterly revenues climbed 52% to reach 13.6 trillion pesos,

the company said in a statement.

Grupo SURA operates in more than 10 countries via

holdings in financial services, foodstuffs, cement, energy and

infrastructure.

The company acknowledged that its profits in the

January-to-March period were boosted by the sale of Nutresa

shares, though the quarter's gains would have shrank 10% if that

transaction was excluded.

Last month, Grupo Gilinski, Graystone Holdings, Grupo

SURA and Grupo Argos received offers for about 22% of

Nutresa in a public share offering.

The four entities bought nearly 103 million shares at

$12 each, taking the total price of the offer to $1.23 billion,

according to Reuters calculations.

The bid is part of an agreement from last year to help

Grupo Gilinski and its partner International Holding Company

(IHC) buy at least 87% of Nutresa's shares in exchange for

exiting their stakes in Grupo SURA.

($1 = 3,820.1000 Colombian pesos)