Canada's Fortis posts small rise in Q4 net profit

Thu Feb 9, 2012 8:18am EST
 
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(Reuters) - Canadian utility Fortis Inc (FTS.TO: Quote) posted a small rise in quarterly net income, helped by higher gas sales and growth in customers for its FortisAlberta unit.

Fourth-quarter net income attributable to common shareholders rose to C$86 million, or 45 Canadian cents per share, from C$85 million, or 47 Canadian cents per share.

Fortis, the largest investor-owned distribution utility in Canada, posted a slight rise in revenue at C$1.04 billion.

Shares of the company closed at C$34.08 on Wednesday on the Toronto Stock Exchange.

(Reporting by Ankur Banerjee in Bangalore; Editing by Gopakumar Warrier)