Enbridge posts profit on lower derivatives losses

Wed Nov 7, 2012 7:21am EST
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Nov 7 (Reuters) - Canada's second-largest pipeline company Enbridge Inc reported a third-quarter profit as losses on financial derivatives fell and it carried more oil and natural gas on some of its pipelines.

Enbridge, which seeks to expand its massive oil export network to both the Pacific and Atlantic Coasts, earned C$189 million ($189.98 million), or 24 Canadian cents per share, compared with a loss of C$5 million, or 1 Canadian cent per share, a year earlier.

Revenue fell 8 percent to C$5.78 billion.