ShawCor 4th-quarter profit down on lower margins

Thu Mar 1, 2012 5:36pm EST
 
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(Reuters) - Energy services company ShawCor Ltd SCLa.TO posted a lower fourth-quarter profit, hurt in part by lower margins at its key pipeline segment.

For the October-December quarter, the Toronto-based company earned C$23 million ($23.3 million), or 32 Canadian cents a share, down from C$39.2 million, or 55 Canadian cents per share, a year ago.

Revenue rose 17 percent to C$341.8 million.

Shares of ShawCor closed marginally down at C$31.79 on Thursday on the Toronto Stock Exchange.

($1 = 0.9862 Canadian dollars)

(Reporting by Shounak Dasgupta in Bangalore; Editing by Maju Samuel)