(Reuters) - Atco Ltd ACOx.TO and its Canadian Utilities Ltd CU.TO 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