Atco, Canadian Utilities earnings rise

Wed Feb 22, 2012 9:33am EST
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(Reuters) - Atco Ltd (ACOx.TO: Quote) and its Canadian Utilities Ltd (CU.TO: Quote) unit reported higher quarterly profits, helped by strong prices they received for electricity generated at their Alberta plant.

The Alberta-based companies operate utilities, structures and logistics, and energy segments, which include coal-fired and natural-gas power plants, pipelines, power distribution and infrastructure.

Atco's earnings for October-December rose to C$102 million, or C$1.76 per share, from C$72 million, or C$1.25, a year ago.

Canadian Utilities' earnings rose to C$156 million, or C$1.14 per share, from C$118 million, or 88 Canadian cents per share, a year ago.

Revenue at Atco rose 18 percent to C$1.13 billion, while Canadian utilities saw a 14 percent rise in revenue at C$827 million.

Atco shares closed at C$63.55, while Canadian utilities shares closed at C$62.98 on Tuesday on the Toronto Stock Exchange.

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