February 5, 2015 / 10:20 AM / 2 years ago

MEG Energy reports operating profit on higher bitumen sales

1 Min Read

Feb 5 (Reuters) - Canadian oil sands producer MEG Energy Corp reported an operating profit, compared with a loss a year earlier, helped by an increase in bitumen sales and higher prices.

The company's net operating income was C$8 million ($6.4 million), or 8 Canadian cents per share, in the fourth quarter ended Dec. 31, compared with a loss of C$33 million, or 15 Canadian cents per share, a year earlier.

Revenue rose to 76 percent to C$615 million.

$1 = 1.2509 Canadian dollars Reporting by Nia Williams in Calgary, Anet Josline Pinto and Anannya Pramanick in Bengaluru; Editing by Maju Samuel

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