October 27, 2016 / 10:17 AM / in a year

Husky Energy swings to profit on asset sale gains

Oct 27 (Reuters) - Husky Energy Inc, Canada’s No. 3 integrated oil company, swung to a quarterly profit as it recorded nearly C$1.5 billion ($1.12 billion) in gains related to asset sales.

The company reported a profit of C$1.39 billion, or C$1.37 per share, for the third quarter ended Sept. 30, compared with a loss of C$4.09 billion, or C$4.19 per share, a year earlier.

The Calgary, Alberta-based company said on Wednesday its chief executive, Asim Ghosh, will retire on Dec. 5 after seven years at the helm.

Rob Peabody, who has been Husky’s chief operating officer since 2006, was named the new CEO. ($1 = 1.3371 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru; Editing by Sriraj Kalluvila)

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