August 3, 2011 / 11:38 AM / in 7 years

UPDATE 1-Canada's Fortis Q2 rises on higher energy consumption

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Aug 3 (Reuters) - Canadian utility Fortis Inc’s second-quarter earnings rose about 5 percent as higher consumption drove up gas and energy sales.

April-June profit attributable to common shareholders rose to C$58 million ($60.4 million), or 33 Canadian cents a share, from C$55 million, or 32 Canadian cents a share, a year ago.

Fortis, the largest investor-owned distribution utility in Canada, posted a slight rise in revenue at C$850 million.

Analysts on average had forecast earnings of 35 Canadian cents a share, on revenue of C$813.3 million, according to Thomson Reuters I/B/E/S.

Fortis shares closed at C$31.37 on Tuesday on the Toronto Stock Exchange. ($1 = 0.960 Canadian dollars) (Reporting by Gowri Jayakumar in Bangalore; Editing by Gopakumar Warrier)

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