March 2, 2012 / 2:08 PM / 6 years ago

TransAlta profit slips on outages

March 2 (Reuters) - TransAlta Corp said its fourth-quarter profit fell 74 percent hurt by unplanned outages at its plants.

The company, which runs coal and gas-fired power plants and renewable energy facilities in Canada and the United States, saw net income attributable to common shareholders fall to C$24 million, or 11 Canadian cents per share, from C$92 million, or 42 Canadian cents, a year ago.

The quarter was the last under former Chief Executive Steve Snyder, who retired at the start of the year. He was replaced by Dawn Farrell, an executive with 25 years experience in the electricity industry.

Revenue fell 10 percent to C$701 million.

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