Canadian Oil Sands Q4 profit down on higher expenses

Thu Jan 30, 2014 6:15pm EST
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Jan 30 (Reuters) - Canadian Oil Sands Ltd, the largest stakeholder in the Syncrude Canada Ltd oil sands project in northern Alberta, said on Thursday its fourth-quarter profit fell 12 percent on higher expenses and an increased foreign exchange loss.

The company, which has a 37 percent stake in Syncrude, said profit dropped to C$192 million ($171.74 million), or 40 Canadian cents per share, from C$218 million, or 45 Canadian cents, in the fourth quarter of 2012.

Analysts, on average, had expected a profit of 49 Canadian cents a share, according to Thomson Reuters I/B/E/S.