April 30, 2009 / 12:20 PM / in 9 years

UPDATE 1-Canada's Fortis posts slightly higher Q1 net profit

* Q1 EPS C$0.52 vs C$0.55 yr-ago

* Q1 rev up 4.8 pct to C$1.20 bln

* Sees 2009 capex at about C$1 bln

April 30 (Reuters) - Canadian gas and power utility Fortis Inc FTS.TO posted a slight rise in quarterly profit, helped by growth in electrical infrastructure investment and customers at the Regulated Electric Utilities in western Canada.

Fortis, with operations in eastern Canada, British Columbia and the Caribbean, reported first-quarter net earnings applicable to common shares of C$92 million ($77.51 million), or 52 Canadian cents per share, compared with C$91 million, or 55 Canadian cents per share, a year ago.

Analysts on average expected the company to earn 57 Canadian cents a share, according to a Reuters Estimates.

Revenue rose 4.8 percent to C$1.20 billion.

The company expects gross consolidated capital expenditures of about C$1 billion in 2009 and about C$4.5 billion over the next five years.

Fortis shares closed at C$22.77 Wednesday on the Toronto Stock Exchange. ($1=1.187 Canadian Dollar) (Reporting by R. Manikandan in Bangalore; Editing by Ratul Ray Chaudhuri)

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