Cenovus operating profit rises on higher production

Thu Oct 25, 2012 6:15am EDT
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Oct 25 (Reuters) - Cenovus Energy Inc, Canada's No. 2 independent oil producer, reported a 43 percent rise in third-quarter operating profit on higher production.

Operating earnings, which exclude most one-time and unusual items, rose to C$432 million ($435.6 million), or 57 Canadian cents per share, from C$303 million, or 40 Canadian cents, a year earlier.

Net income fell to C$289 million, or 38 Canadian cents per share, from C$510 million, or 67 Canadian cents per share.